Enovis Corporation $ENOV Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments boosted its Enovis stake by 38% in the first quarter, adding 287,687 shares and bringing its total holding to 1,045,360 shares worth about $24.4 million.
• Enovis saw additional institutional buying and limited insider activity, including insider Oliver Engert purchasing 1,200 shares in June; institutions now own about 98.45% of the stock.
• Analyst sentiment is mixed but leans positive, with a Moderate Buy consensus and a target price of $41.71, while the stock last traded at $26.83 after a 0.9% decline.

Allspring Global Investments Holdings LLC grew its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 38.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,045,360 shares of the company's stock after purchasing an additional 287,687 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.82% of Enovis worth $24,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Arax Advisory Partners bought a new stake in Enovis during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company's stock valued at $40,000 after buying an additional 707 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Enovis by 353.5% during the 4th quarter. GAMMA Investing LLC now owns 1,855 shares of the company's stock valued at $49,000 after acquiring an additional 1,446 shares during the last quarter. Danske Bank A S acquired a new position in shares of Enovis in the 3rd quarter worth $64,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Enovis in the 3rd quarter worth $80,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity

In other news, insider Oliver Engert purchased 1,200 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $21.62 per share, with a total value of $25,944.00. Following the purchase, the insider owned 51,840 shares in the company, valued at $1,120,780.80. This represents a 2.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 4,200 shares of company stock worth $92,084. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Enovis in a research note on Wednesday, July 8th. Wells Fargo & Company cut their price target on shares of Enovis from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Zacks Research downgraded shares of Enovis from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. William Blair started coverage on shares of Enovis in a research note on Friday, April 17th. They issued an "outperform" rating for the company. Finally, Wall Street Zen raised shares of Enovis from a "hold" rating to a "buy" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.71.

Enovis Stock Down 0.9%

Enovis stock opened at $26.83 on Tuesday. 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 $1.54 billion, a PE ratio of -1.35 and a beta of 1.39. The firm's 50 day moving average price is $23.56 and its two-hundred day moving average price is $23.76.

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

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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