Enovis Corporation $ENOV Shares Bought by Private Management Group Inc.

Key Points

• Private Management Group increased its Enovis stake by 38.8% in the second quarter, adding 381,705 shares to hold 1.37 million shares worth approximately $28.3 million. Institutional investors collectively own 98.45% of the company.
• Analyst sentiment remains positive, with eight Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with a $41.29 price target versus a recent share price of $24.91.
• Enovis beat quarterly earnings expectations, reporting $0.90 EPS versus an $0.85 consensus and revenue of $582.78 million. Revenue rose 3.2% year over year, although the company reported a negative net margin of 47.96%.

Private Management Group Inc. lifted its position in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 38.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,365,082 shares of the company's stock after acquiring an additional 381,705 shares during the quarter. Private Management Group Inc. owned 2.37% of Enovis worth $28,257,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Arax Advisory Partners purchased a new stake in Enovis during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Enovis by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company's stock worth $40,000 after buying an additional 707 shares in the last quarter. Allworth Financial LP acquired a new stake in Enovis in the 2nd quarter valued at about $36,000. Danske Bank A S purchased a new position in Enovis during the 3rd quarter valued at about $64,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Enovis during the second quarter worth about $48,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Oliver Engert bought 1,200 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $21.62 per share, with a total value of $25,944.00. Following the transaction, the insider owned 51,840 shares of the company's stock, valued at approximately $1,120,780.80. This trade represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 4,200 shares of company stock worth $92,084. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ENOV shares. Canaccord Genuity Group decreased their price objective on Enovis from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, August 17th. UBS Group reissued a "buy" rating and issued a $51.00 target price (up from $50.00) on shares of Enovis in a research report on Tuesday, July 28th. Zacks Research raised shares of Enovis from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Enovis from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 21st. Finally, Evercore set a $32.00 price objective on Enovis in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.29.

Enovis Trading Up 0.3%

Shares of ENOV opened at $24.91 on Friday. Enovis Corporation has a 12 month low of $19.14 and a 12 month high of $34.28. The stock's 50-day moving average is $25.60 and its two-hundred day moving average is $24.25. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.00. The stock has a market cap of $1.44 billion, a PE ratio of -1.29 and a beta of 1.34.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The company had revenue of $582.78 million for the quarter, compared to analyst estimates of $581.84 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Equities analysts forecast that Enovis Corporation will post 3.15 earnings per share for the current fiscal year.

Enovis Profile

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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