T. Rowe Price Investment Management Inc. Raises Stock Position in Enovis Corporation $ENOV

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Enovis Corporation by 0.7%, owning a total of 6,207,768 shares worth approximately $237 million.
• Analysts have recently decreased their price targets for Enovis, with consensus estimates now averaging $51.00, despite maintaining a "Buy" rating for the stock.
• Enovis reported a 7.5% increase in revenue from the previous year, posting an EPS of $0.79 in its latest earnings report, exceeding expectations.

T. Rowe Price Investment Management Inc. boosted its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 0.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,207,768 shares of the company's stock after buying an additional 44,632 shares during the quarter. T. Rowe Price Investment Management Inc. owned 10.87% of Enovis worth $237,199,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Humankind Investments LLC raised its position in Enovis by 8.6% during the 1st quarter. Humankind Investments LLC now owns 5,688 shares of the company's stock worth $217,000 after buying an additional 452 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Enovis during the 1st quarter valued at approximately $1,973,000. Dimensional Fund Advisors LP increased its holdings in shares of Enovis by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,927,340 shares of the company's stock valued at $111,852,000 after purchasing an additional 27,894 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Enovis during the 1st quarter valued at approximately $1,069,000. Finally, HighTower Advisors LLC increased its holdings in shares of Enovis by 17.3% during the 1st quarter. HighTower Advisors LLC now owns 7,342 shares of the company's stock valued at $281,000 after purchasing an additional 1,082 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Price Performance

ENOV traded down $0.3990 on Monday, hitting $31.0410. 460,517 shares of the company's stock were exchanged, compared to its average volume of 1,189,400. Enovis Corporation has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $30.06 and a 200-day moving average price of $33.93. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -2.17 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $564.50 million for the quarter, compared to analysts' expectations of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, equities analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ENOV. Evercore ISI cut their target price on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. UBS Group cut their target price on shares of Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a report on Friday, August 8th. 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 report on Friday, May 9th. Canaccord Genuity Group cut their target price on shares of Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Wells Fargo & Company cut their target price on shares of Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $51.00.

Insider Transactions at Enovis

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the business's stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the purchase, the senior vice president directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the purchase, the chief financial officer directly owned 116,729 shares of the company's stock, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company's stock.

Enovis Company 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.