Enovis Corporation $ENOV Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 50,442.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,901 shares of the company's stock after buying an additional 83,735 shares during the period. Fifth Third Bancorp owned about 0.15% of Enovis worth $1,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ENOV. Rubric Capital Management LP purchased a new stake in shares of Enovis during the third quarter worth $83,435,000. AQR Capital Management LLC grew its stake in Enovis by 682.6% in the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company's stock valued at $15,627,000 after purchasing an additional 434,646 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in Enovis by 41.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,113,300 shares of the company's stock worth $34,913,000 after purchasing an additional 326,900 shares during the last quarter. ExodusPoint Capital Management LP increased its position in Enovis by 163.4% in the 4th quarter. ExodusPoint Capital Management LP now owns 508,971 shares of the company's stock worth $13,559,000 after purchasing an additional 315,711 shares during the last quarter. Finally, Soleus Capital Management L.P. purchased a new stake in shares of Enovis during the 2nd quarter worth about $9,878,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Oliver Engert bought 1,200 shares of the business's stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $21.62 per share, with a total value of $25,944.00. Following the transaction, the insider directly owned 51,840 shares in the company, valued at approximately $1,120,780.80. The trade was a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 4,200 shares of company stock valued at $92,084. Company insiders own 2.90% of the company's stock.

Enovis Stock Down 2.0%

ENOV opened at $26.57 on Thursday. The business has a 50 day moving average price of $23.60 and a 200 day moving average price of $23.76. Enovis Corporation has a twelve month low of $19.14 and a twelve month high of $34.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 2.04. The firm has a market cap of $1.53 billion, a P/E ratio of -1.34 and a beta of 1.39.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. The business had revenue of $589.15 million during the quarter, compared to analysts' expectations of $572.02 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. Enovis's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Research analysts forecast that Enovis Corporation will post 3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

ENOV has been the subject of several research reports. Evercore set a $32.00 price target on Enovis in a report on Monday, July 6th. BMO Capital Markets initiated coverage on shares of Enovis in a research report on Wednesday, July 8th. They set an "outperform" rating and a $29.00 price objective on the stock. BTIG Research reiterated a "buy" rating and issued a $39.00 target price on shares of Enovis in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Enovis from a "hold" rating to a "buy" rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Enovis in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.71.

About Enovis

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.

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