Enovis Corporation $ENOV Stock Holdings Increased by Private Management Group Inc.

Key Points

• Private Management Group increased its Enovis stake by 31.3%, adding 427,347 shares to hold about 1.79 million shares, or 3.11% of the company. Institutional investors collectively own 98.45% of Enovis.
• Enovis insiders bought 23,293 shares worth about $449,600 over the past 90 days, including purchases by CEO Damien McDonald and insider Oliver Engert.
• Quarterly earnings were $0.88 per share, above the $0.77 analyst consensus, while revenue slightly exceeded estimates and rose 1.8% year over year. Analysts’ average rating was “Moderate Buy,” with an average price target of $38.62.

Private Management Group Inc. increased its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 31.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,792,429 shares of the company's stock after buying an additional 427,347 shares during the period. Private Management Group Inc. owned 3.11% of Enovis worth $32,748,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its holdings in Enovis by 5,590.5% in the 2nd quarter. IFP Advisors Inc now owns 1,195 shares of the company's stock valued at $25,000 after acquiring an additional 1,174 shares during the period. Allworth Financial LP acquired a new stake in Enovis during the second quarter worth approximately $36,000. Integrated Wealth Concepts LLC acquired a new stake in Enovis during the second quarter worth approximately $39,000. Public Employees Retirement System of Ohio bought a new stake in shares of Enovis during the second quarter worth approximately $48,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Enovis during the third quarter worth approximately $55,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling at Enovis

In related news, insider Oliver Engert acquired 5,140 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was purchased at an average cost of $19.46 per share, with a total value of $100,024.40. Following the acquisition, the insider directly owned 61,238 shares of the company's stock, valued at approximately $1,191,691.48. The trade was a 9.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Damien Mcdonald bought 13,035 shares of the business's stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $19.15 per share, with a total value of $249,620.25. Following the completion of the transaction, the chief executive officer owned 247,077 shares in the company, valued at approximately $4,731,524.55. This trade represents a 5.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 23,293 shares of company stock valued at $449,599 over the last ninety days. Insiders own 2.90% of the company's stock.

Enovis Stock Up 4.9%

Shares of ENOV opened at $28.48 on Tuesday. Enovis Corporation has a 12 month low of $16.70 and a 12 month high of $32.41. The firm's 50 day moving average is $19.98 and its 200-day moving average is $23.11. The stock has a market capitalization of $1.64 billion, a PE ratio of -3.09 and a beta of 1.31. The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.11. The company had revenue of $558.73 million during the quarter, compared to the consensus estimate of $557.12 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. Equities research analysts forecast that Enovis Corporation will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of recent research reports. Zacks Research upgraded Enovis from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. BMO Capital Markets set a $27.00 price target on Enovis in a research note on Tuesday, September 1st. BTIG Research upped their price objective on Enovis from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, November 5th. Citigroup reaffirmed a "market outperform" rating on shares of Enovis in a report on Wednesday, September 2nd. Finally, Wells Fargo & Company increased their price objective on Enovis from $33.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.62.

Enovis Profile

Enovis is a medical technology company that develops products and solutions for orthopedic care, surgery, recovery and rehabilitation. Its offerings include joint replacement implants, foot and ankle products, surgical instruments, orthopedic braces and supports, and rehabilitation equipment.

The company serves healthcare providers and patients in markets around the world. Its products are designed to support treatment across different stages of musculoskeletal care, from surgical intervention to recovery and mobility.

Enovis was formerly part of Colfax Corporation.

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