Balyasny Asset Management L.P. Cuts Holdings in Enovis Co. (NYSE:ENOV)

Balyasny Asset Management L.P. decreased its stake in Enovis Co. (NYSE:ENOV - Free Report) by 75.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,807 shares of the company's stock after selling 20,902 shares during the period. Balyasny Asset Management L.P.'s holdings in Enovis were worth $299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Enovis in the fourth quarter valued at about $29,000. Quadrant Capital Group LLC raised its stake in Enovis by 53.0% during the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after buying an additional 239 shares during the last quarter. UMB Bank n.a. raised its stake in Enovis by 128.2% during the fourth quarter. UMB Bank n.a. now owns 778 shares of the company's stock worth $34,000 after buying an additional 437 shares during the last quarter. Quarry LP grew its stake in Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the period. Finally, Sterling Capital Management LLC grew its stake in Enovis by 56.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock worth $143,000 after purchasing an additional 1,173 shares during the period. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENOV. Canaccord Genuity Group decreased their target price on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. 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 report on Friday, May 9th. Finally, JMP Securities reduced their price target on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Enovis has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Enovis Stock Down 2.9%

Shares of NYSE:ENOV traded down $1.03 during mid-day trading on Tuesday, hitting $34.45. 675,054 shares of the company traded hands, compared to its average volume of 780,436. The stock has a market cap of $1.97 billion, a P/E ratio of -15.73 and a beta of 1.79. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis Co. has a 12-month low of $29.32 and a 12-month high of $51.31. The stock has a 50-day moving average price of $35.10 and a two-hundred day moving average price of $41.32.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $558.83 million for the quarter, compared to analysts' expectations of $558.80 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Enovis Co. will post 2.79 earnings per share for the current year.

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.