Diamond Hill Capital Management Inc. Sells 918,910 Shares of Enovis Corporation (NYSE:ENOV)

Diamond Hill Capital Management Inc. reduced its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 32.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,872,526 shares of the company's stock after selling 918,910 shares during the period. Diamond Hill Capital Management Inc. owned approximately 3.28% of Enovis worth $71,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENOV. Aster Capital Management DIFC Ltd purchased a new position in Enovis in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC grew its holdings in shares of Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Enovis by 266.7% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after buying an additional 536 shares during the period. Quarry LP increased its stake in shares of Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after buying an additional 749 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Enovis by 144.8% during the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock valued at $45,000 after buying an additional 692 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JMP Securities cut their price target on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group decreased their price target on shares of Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Needham & Company LLC lowered their price objective on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Evercore ISI dropped their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.60.

Enovis Stock Down 2.0%

Shares of ENOV traded down $0.55 on Thursday, hitting $27.16. 1,272,937 shares of the stock traded hands, compared to its average volume of 1,843,391. The company has a market capitalization of $1.55 billion, a PE ratio of -1.95 and a beta of 1.70. The business has a 50 day simple moving average of $32.03 and a 200 day simple moving average of $36.85. Enovis Corporation has a one year low of $25.93 and a one year high of $49.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.32 and a current ratio of 2.55.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The firm had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, equities analysts forecast that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

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.