Dynamic Technology Lab Private Ltd Makes New Investment in Enovis Corporation $ENOV

Key Points

• Dynamic Technology Lab has invested approximately $537,000 in Enovis Corporation, acquiring 14,060 shares in the first quarter, which follows significant stakes added by other institutional investors.
• Several analysts have adjusted their price targets for Enovis, with estimates now ranging from $41.00 to $58.00, while maintaining a consensus rating of "Buy" for the stock.
• Enovis reported a 7.5% year-over-year revenue increase to $564.5 million in its latest quarterly earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.79.

Dynamic Technology Lab Private Ltd purchased a new position in Enovis Corporation (NYSE:ENOV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,060 shares of the company's stock, valued at approximately $537,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in Enovis by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,207,768 shares of the company's stock valued at $237,199,000 after acquiring an additional 44,632 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Enovis by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock worth $233,356,000 after purchasing an additional 621,069 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Enovis by 10.4% during the first quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock valued at $116,489,000 after purchasing an additional 289,644 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Enovis by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,927,340 shares of the company's stock worth $111,852,000 after buying an additional 27,894 shares in the last quarter. Finally, Royce & Associates LP grew its position in Enovis by 0.8% in the first quarter. Royce & Associates LP now owns 2,490,806 shares of the company's stock worth $95,174,000 after buying an additional 20,230 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Transactions at Enovis

In related news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was purchased 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 in the company, valued at $3,468,018.59. This trade represents a 2.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the business's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the acquisition, the senior vice president owned 43,515 shares of the company's stock, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 12,157 shares of company stock worth $374,760 over the last quarter. Corporate insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company lowered their price target on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Needham & Company LLC cut their price target on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Canaccord Genuity Group cut their price target on shares of Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Evercore ISI cut their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $51.00.

Enovis Price Performance

Shares of ENOV stock traded up $0.22 on Friday, reaching $31.80. The company had a trading volume of 1,165,954 shares, compared to its average volume of 889,427. The business's 50-day moving average is $29.85 and its 200 day moving average is $32.71. The stock has a market capitalization of $1.82 billion, a PE ratio of -2.23 and a beta of 1.68. Enovis Corporation has a one year low of $25.47 and a one year high of $49.83. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The company had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm'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. Equities research analysts forecast that Enovis Corporation will post 2.79 EPS for the current fiscal year.

About Enovis

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.