Fox Run Management L.L.C. Makes New $1.07 Million Investment in Enovis Corporation $ENOV

Key Points

• Fox Run Management L.L.C. made a new investment in Enovis Corporation, acquiring 27,979 shares valued at approximately $1.07 million in the first quarter.
• Several institutional investors increased their stakes in Enovis, with Hood River Capital Management buying in for about $29 million and Vanguard Group raising its position by 11.3% this quarter.
• Despite a negative net margin of 37.80%, Enovis reported earnings of $0.79 per share, exceeding estimates, with revenue of $564.5 million for the quarter.

Fox Run Management L.L.C. acquired a new stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 27,979 shares of the company's stock, valued at approximately $1,069,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enovis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after purchasing an additional 621,069 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Enovis by 10.4% in the 1st quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock valued at $116,489,000 after buying an additional 289,644 shares during the last quarter. Royce & Associates LP grew its stake in shares of Enovis by 0.8% during the first quarter. Royce & Associates LP now owns 2,490,806 shares of the company's stock valued at $95,174,000 after acquiring an additional 20,230 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Enovis by 10.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 712,810 shares of the company's stock worth $27,236,000 after acquiring an additional 67,021 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Enovis by 25.0% during the fourth quarter. Royal Bank of Canada now owns 707,361 shares of the company's stock worth $31,038,000 after acquiring an additional 141,517 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enovis Stock Performance

Shares of Enovis stock traded down $0.4460 on Wednesday, reaching $29.9940. 931,028 shares of the company were exchanged, compared to its average volume of 1,269,048. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -2.10 and a beta of 1.70. Enovis Corporation has a 1-year low of $25.47 and a 1-year high of $49.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The company's 50-day moving average is $30.13 and its two-hundred day moving average is $34.31.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The firm had revenue of $564.50 million during the quarter, compared to the consensus estimate of $555.80 million. During the same period in the prior year, the business earned $0.62 EPS. The firm's revenue was up 7.5% on a year-over-year basis. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, research analysts expect that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Enovis

In other news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $29.71 per share, with a total value of $74,275.00. Following the acquisition, the chief financial officer directly owned 116,729 shares in the company, valued at approximately $3,468,018.59. The trade was a 2.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Enovis Company 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.