Front Street Capital Management Inc. Boosts Holdings in Enovis Corporation $ENOV

Key Points

• Front Street Capital Management more than doubled its Enovis holdings in the first quarter, adding 384,124 shares to own 746,056 shares valued at approximately $17.0 million, or 1.3% of the company.
• Institutional investors own 98.45% of Enovis, while insiders have also been net buyers, purchasing 4,200 shares over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with a $41.86 average price target. Enovis recently beat quarterly earnings and revenue estimates, reporting $0.89 in EPS and $589.15 million in revenue.

Front Street Capital Management Inc. boosted its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 106.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 746,056 shares of the company's stock after acquiring an additional 384,124 shares during the period. Enovis comprises 2.2% of Front Street Capital Management Inc.'s portfolio, making the stock its 18th largest holding. Front Street Capital Management Inc. owned approximately 1.30% of Enovis worth $16,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ENOV. California State Teachers Retirement System increased its stake in shares of Enovis by 1.2% during the 2nd quarter. California State Teachers Retirement System now owns 51,713 shares of the company's stock worth $1,622,000 after purchasing an additional 621 shares in the last quarter. MGO One Seven LLC lifted its position in shares of Enovis by 9.4% in the fourth quarter. MGO One Seven LLC now owns 7,581 shares of the company's stock valued at $202,000 after acquiring an additional 650 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company's stock valued at $40,000 after acquiring an additional 707 shares during the last quarter. Empowered Funds LLC increased its position in Enovis by 13.0% during the 1st quarter. Empowered Funds LLC now owns 6,515 shares of the company's stock worth $249,000 after purchasing an additional 749 shares in the last quarter. Finally, Inscription Capital LLC increased its position in Enovis by 9.4% during the 4th quarter. Inscription Capital LLC now owns 11,869 shares of the company's stock worth $316,000 after purchasing an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity at Enovis

In other Enovis news, insider Oliver Engert purchased 1,200 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the completion of the purchase, the insider owned 51,840 shares in the company, valued at $1,120,780.80. The trade was a 2.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 4,200 shares of company stock valued at $92,084 in the last 90 days. Insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Enovis from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Enovis from a "hold" rating to a "buy" rating in a report on Monday, July 6th. UBS Group reissued a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Enovis in a research report on Tuesday. BMO Capital Markets began coverage on shares of Enovis in a research report on Wednesday, July 8th. They set an "outperform" rating and a $29.00 target price on the stock. Finally, Evercore set a $32.00 target price on shares of Enovis in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.86.

Enovis Stock Down 3.1%

Shares of NYSE:ENOV opened at $29.32 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -1.47 and a beta of 1.39. The stock's 50-day moving average price is $23.96 and its two-hundred day moving average price is $23.78. Enovis Corporation has a 12-month low of $19.14 and a 12-month high of $34.28.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. The company had revenue of $589.15 million for the quarter, compared to the consensus estimate of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, research analysts forecast that Enovis Corporation will post 3.12 EPS for the current year.

Enovis Profile

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.

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