Homestead Advisers Corp Grows Stake in Enovis Corporation (NYSE:ENOV)

Homestead Advisers Corp lifted its position in Enovis Corporation (NYSE:ENOV - Free Report) by 15.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,476 shares of the company's stock after buying an additional 10,300 shares during the period. Homestead Advisers Corp owned approximately 0.14% of Enovis worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hood River Capital Management LLC purchased a new stake in shares of Enovis during the fourth quarter worth about $29,024,000. Paradigm Capital Management Inc. NY grew its position in shares of Enovis by 2,566.0% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after purchasing an additional 513,200 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Enovis during the fourth quarter worth about $16,407,000. ExodusPoint Capital Management LP grew its position in shares of Enovis by 919.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock worth $14,625,000 after purchasing an additional 300,605 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its position in shares of Enovis by 10.4% during the first quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock worth $116,489,000 after purchasing an additional 289,644 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Enovis Price Performance

ENOV stock traded up $0.48 during trading on Tuesday, hitting $26.78. The stock had a trading volume of 275,568 shares, compared to its average volume of 1,179,844. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. Enovis Corporation has a twelve month low of $25.93 and a twelve month high of $49.83. The stock has a market capitalization of $1.53 billion, a P/E ratio of -1.92 and a beta of 1.70. The company's 50-day moving average price is $32.61 and its two-hundred day moving average price is $37.10.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data 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 period in the previous year, the firm posted $0.50 EPS. Enovis's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

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.

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