Engineers Gate Manager LP Trims Stake in Enovis Corporation $ENOV

Key Points

• Engineers Gate Manager LP cut its Enovis stake by 57.3% in the second quarter, selling 126,873 shares and retaining 94,681 shares valued at approximately $1.96 million. Institutional investors collectively own 98.45% of the company.
• Analysts maintain a generally positive view, with 10 Buy ratings, one Hold and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $40.38. However, several firms recently lowered their individual price targets.
• Enovis insiders bought shares recently, including CEO Damien McDonald’s purchase of 13,035 shares, while the company’s latest quarterly results exceeded estimates with $0.90 EPS and $582.78 million in revenue. The stock opened at $17.92, near its 12-month low of $17.30.

Engineers Gate Manager LP lessened its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 57.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,681 shares of the company's stock after selling 126,873 shares during the period. Engineers Gate Manager LP owned approximately 0.16% of Enovis worth $1,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP increased its position in shares of Enovis by 59.7% during the 2nd quarter. Allworth Financial LP now owns 1,744 shares of the company's stock worth $36,000 after purchasing an additional 652 shares during the last quarter. IFP Advisors Inc lifted its position in Enovis by 5,590.5% in the second quarter. IFP Advisors Inc now owns 1,195 shares of the company's stock valued at $25,000 after buying an additional 1,174 shares during the last quarter. Amundi lifted its position in Enovis by 2.3% in the first quarter. Amundi now owns 74,184 shares of the company's stock valued at $1,688,000 after buying an additional 1,677 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Enovis by 9.3% during the second quarter. Handelsbanken Fonder AB now owns 21,117 shares of the company's stock worth $437,000 after buying an additional 1,800 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in Enovis during the second quarter worth about $39,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENOV shares. Citizens Jmp dropped their price target on shares of Enovis from $55.00 to $47.00 and set a "market outperform" rating for the company in a research report on Wednesday, September 2nd. Evercore set a $32.00 price objective on shares of Enovis in a report on Monday, July 6th. Wall Street Zen raised shares of Enovis from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research upgraded shares of Enovis from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Finally, BTIG Research cut their target price on Enovis from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, September 1st. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.38.

Insider Activity at Enovis

In other Enovis news, insider Oliver Engert bought 2,660 shares of Enovis stock in a transaction on Friday, September 4th. The shares were bought at an average cost of $18.80 per share, for a total transaction of $50,008.00. Following the acquisition, the insider directly owned 63,898 shares in the company, valued at $1,201,282.40. This represents a 4.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Damien Mcdonald purchased 13,035 shares of the firm's stock in a transaction on Friday, September 4th. The stock was acquired at an average cost of $19.15 per share, with a total value of $249,620.25. Following the transaction, the chief executive officer directly owned 247,077 shares in the company, valued at $4,731,524.55. This trade represents a 5.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 23,293 shares of company stock worth $449,599. 2.90% of the stock is owned by insiders.

Enovis Stock Performance

Shares of Enovis stock opened at $17.92 on Wednesday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -0.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.00. The business has a 50-day moving average of $24.95 and a 200 day moving average of $24.04. Enovis Corporation has a 12 month low of $17.30 and a 12 month high of $34.28.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The business had revenue of $582.78 million for the quarter, compared to analysts' expectations of $581.84 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The business's quarterly revenue was up 3.2% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, sell-side analysts forecast that Enovis Corporation will post 3.15 earnings per share for the current year.

Enovis Profile

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company's product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.