GAMMA Investing LLC Buys 44,228 Shares of Enovis Corporation (NYSE:ENOV)

GAMMA Investing LLC raised its position in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 9,252.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,706 shares of the company's stock after purchasing an additional 44,228 shares during the quarter. GAMMA Investing LLC owned 0.08% of Enovis worth $1,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hood River Capital Management LLC bought a new stake in shares of Enovis in the fourth quarter worth approximately $29,024,000. Paradigm Capital Management Inc. NY grew its stake in shares of Enovis by 2,566.0% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after acquiring an additional 513,200 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Enovis in the fourth quarter worth approximately $16,407,000. ExodusPoint Capital Management LP grew its stake in shares of Enovis by 919.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock worth $14,625,000 after acquiring an additional 300,605 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Enovis in the fourth quarter worth approximately $10,970,000. 98.45% of the stock is currently owned by institutional investors.

Enovis Price Performance

NYSE:ENOV traded down $0.19 during trading hours on Wednesday, hitting $30.69. 1,308,288 shares of the stock traded hands, compared to its average volume of 839,031. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 0.52. Enovis Corporation has a 1 year low of $29.13 and a 1 year high of $49.83. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -2.20 and a beta of 1.71. The stock has a 50 day moving average price of $33.13 and a 200 day moving average price of $39.24.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The firm had revenue of $558.83 million for the quarter, compared to the consensus estimate of $558.80 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

ENOV has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 9th. JMP Securities cut their target price on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Finally, Canaccord Genuity Group cut their target price on shares of Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.