DAVENPORT & Co LLC Sells 228,850 Shares of Enovis Corporation $ENOV

Key Points

• DAVENPORT & Co LLC reduced its stake in Enovis Corporation by 7.4%, selling 228,850 shares, and currently owns nearly 5% of the company valued at approximately $90 million.
• CEO Damien McDonald purchased more shares of Enovis, increasing his ownership to 102,753 shares, while CFO Phillip Berry also bought shares, boosting insider ownership to 2.7%.
• Enovis reported a quarterly earnings per share of $0.79, surpassing analysts' expectations, and the company has set its FY 2025 guidance at **3.050-3.200 EPS** with an average target price of **$51.00** from analysts.

DAVENPORT & Co LLC decreased its stake in Enovis Corporation (NYSE:ENOV - Free Report) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,843,135 shares of the company's stock after selling 228,850 shares during the period. DAVENPORT & Co LLC owned 4.98% of Enovis worth $89,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE increased its position in shares of Enovis by 2.5% during the 1st quarter. US Bancorp DE now owns 19,031 shares of the company's stock worth $727,000 after purchasing an additional 462 shares during the last quarter. Central Valley Advisors LLC raised its position in Enovis by 18.5% during the second quarter. Central Valley Advisors LLC now owns 57,372 shares of the company's stock worth $1,799,000 after acquiring an additional 8,951 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Enovis in the first quarter valued at $537,000. Cubist Systematic Strategies LLC grew its position in shares of Enovis by 431.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 116,592 shares of the company's stock valued at $4,455,000 after acquiring an additional 94,670 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Enovis by 72.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the company's stock worth $1,024,000 after purchasing an additional 11,300 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Transactions at Enovis

In other Enovis news, CEO Damien Mcdonald purchased 6,457 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $30.97 per share, for a total transaction of $199,973.29. Following the completion of the transaction, the chief executive officer owned 102,753 shares in the company, valued at approximately $3,182,260.41. This represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $29.71 per share, with a total value of $74,275.00. Following the completion of the purchase, the chief financial officer owned 116,729 shares of the company's stock, valued at $3,468,018.59. This trade represents a 2.19% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 12,157 shares of company stock valued at $374,760. 2.70% of the stock is currently owned by company insiders.

Enovis Stock Up 4.8%

ENOV stock opened at $32.02 on Monday. Enovis Corporation has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -2.25 and a beta of 1.69. The business's fifty day moving average price is $30.09 and its two-hundred day moving average price is $32.03.

Enovis (NYSE:ENOV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company had revenue of $564.50 million during the quarter, compared to analysts' expectations of $555.80 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. Enovis's quarterly revenue was up 7.5% on a year-over-year basis. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, equities analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC cut their target price on shares of Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Evercore ISI reduced their target price on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Canaccord Genuity Group decreased their target price on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Enovis in a report on Saturday, September 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Enovis has an average rating of "Moderate Buy" and an average price target of $51.00.

Enovis Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.

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