Charles Schwab Investment Management Inc. Increases Stake in Enovis Corporation $ENOV

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Enovis Corporation by 10.4%, owning a total of 712,810 shares valued at approximately $27.2 million by the end of the last quarter.
• Analysts have made several revisions to their price targets for Enovis, with the consensus target currently set at $51.00, despite multiple firms reducing their price forecasts.
• Enovis reported earnings of $0.79 per share for the last quarter, exceeding analysts' expectations and demonstrating a 7.5% year-over-year revenue increase.

Charles Schwab Investment Management Inc. grew its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 712,810 shares of the company's stock after acquiring an additional 67,021 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Enovis worth $27,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Enovis by 11.3% in the first quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after acquiring an additional 621,069 shares during the period. DAVENPORT & Co LLC lifted its position in Enovis by 10.4% in the first quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock worth $116,489,000 after purchasing an additional 289,644 shares during the period. Royce & Associates LP lifted its position in Enovis by 0.8% in the first quarter. Royce & Associates LP now owns 2,490,806 shares of the company's stock worth $95,174,000 after purchasing an additional 20,230 shares during the period. Royal Bank of Canada raised its stake in Enovis by 25.0% during the fourth quarter. Royal Bank of Canada now owns 707,361 shares of the company's stock worth $31,038,000 after acquiring an additional 141,517 shares in the last quarter. Finally, Artemis Investment Management LLP grew its stake in Enovis by 4.5% during the first quarter. Artemis Investment Management LLP now owns 696,118 shares of the company's stock worth $26,599,000 after buying an additional 30,250 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Evercore ISI cut their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. JMP Securities cut their price target on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC cut their price target on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enovis has a consensus rating of "Buy" and a consensus price target of $51.00.

Enovis Stock Performance

Enovis stock traded down $0.5620 during midday trading on Monday, hitting $30.8780. The company's stock had a trading volume of 325,273 shares, compared to its average volume of 1,188,633. Enovis Corporation has a 1-year low of $25.47 and a 1-year high of $49.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The company has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $33.93. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -2.17 and a beta of 1.70.

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

Insiders Place Their Bets

In related news, SVP Bradley J. Tandy purchased 3,200 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $31.41 per share, with a total value of $100,512.00. Following the transaction, the senior vice president owned 43,515 shares of the company's stock, valued at $1,366,806.15. This represents a 7.94% 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. Also, CFO Phillip Benjamin (Ben) Berry bought 2,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $29.71 per share, with a total value of $74,275.00. Following the completion of the transaction, the chief financial officer owned 116,729 shares in the company, valued at approximately $3,468,018.59. The trade was 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 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.