Enovis Corporation (NYSE:ENOV) Holdings Raised by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its holdings in Enovis Corporation by 135.2%, acquiring an additional 9,878 shares, bringing its total to 17,183 shares worth $657,000.
• Research firms have lowered their price targets for Enovis, with JMP Securities reducing its target from $62.00 to $55.00, while UBS Group adjusted its estimate from $65.00 to $57.00, indicating a cautious outlook despite maintaining buy ratings.
• Enovis Corporation reported earnings of $0.79 per share for the last quarter, outperforming analysts' expectations and showing a revenue increase of 7.5% compared to the previous year.

Entropy Technologies LP boosted its position in Enovis Corporation (NYSE:ENOV - Free Report) by 135.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,183 shares of the company's stock after purchasing an additional 9,878 shares during the period. Entropy Technologies LP's holdings in Enovis were worth $657,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Enovis by 266.7% in the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock valued at $27,000 after purchasing an additional 536 shares in the last quarter. Quarry LP increased its stake 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 purchasing an additional 749 shares in the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 692 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Enovis by 57.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock valued at $74,000 after purchasing an additional 725 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Enovis by 56.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock valued at $143,000 after purchasing an additional 1,173 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on ENOV shares. Wells Fargo & Company cut their price objective on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Evercore ISI cut their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Canaccord Genuity Group cut their price objective on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Needham & Company LLC cut their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, UBS Group cut their price objective on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Enovis has an average rating of "Buy" and an average target price of $51.00.

Enovis Stock Up 2.6%

Shares of ENOV stock traded up $0.74 during trading hours on Friday, hitting $29.56. 1,055,470 shares of the company were exchanged, compared to its average volume of 1,513,643. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. Enovis Corporation has a one year low of $25.47 and a one year high of $49.83. The business's 50-day simple moving average is $30.33 and its two-hundred day simple moving average is $34.58. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.07 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. Enovis's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Sell-side analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

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.