Allspring Global Investments Holdings LLC Decreases Holdings in Enovis Corporation (NYSE:ENOV)

Allspring Global Investments Holdings LLC cut its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,123 shares of the company's stock after selling 15,194 shares during the period. Allspring Global Investments Holdings LLC owned about 0.49% of Enovis worth $10,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Enovis by 266.7% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Enovis during the fourth quarter worth about $29,000. Quadrant Capital Group LLC increased its position in shares of Enovis by 53.0% during 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 in the last quarter. Quarry LP increased its position in Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 749 shares during the period. Finally, GAMMA Investing LLC increased its position in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock valued at $45,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Stock Performance

NYSE ENOV traded up $0.19 on Friday, hitting $33.65. 775,291 shares of the company's stock were exchanged, compared to its average volume of 890,833. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. The firm's 50-day moving average price is $32.99 and its two-hundred day moving average price is $37.94. Enovis Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $49.83. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -2.41 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

ENOV has been the topic of several recent research reports. Needham & Company LLC dropped their price target on Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Canaccord Genuity Group dropped their price target on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, JMP Securities dropped their price target on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Enovis currently has an average rating of "Moderate Buy" and an average price target of $58.00.

About Enovis

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.