Hsbc Holdings PLC Has $15.22 Million Stock Holdings in Enovis Corporation $ENOV

Key Points

• Hsbc Holdings PLC reduced its stake in Enovis Corporation by 15.6%, selling 73,971 shares and holding approximately 0.70% of the company, valued at $15.2 million.
• Multiple institutional investors have recently modified their positions in Enovis, with Farther Finance Advisors LLC increasing their stake by 266.7% during the first quarter.
• Enovis reported a positive earnings surprise with an EPS of $0.79, surpassing analysts' expectations of $0.74, and its revenue increased by 7.5% year-over-year.

Hsbc Holdings PLC cut its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 15.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400,678 shares of the company's stock after selling 73,971 shares during the period. Hsbc Holdings PLC owned approximately 0.70% of Enovis worth $15,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised 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 during the period. Quarry LP raised its position in shares of Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the period. GAMMA Investing LLC raised its position in shares of Enovis by 144.8% during the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Enovis by 57.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock worth $74,000 after purchasing an additional 725 shares during the period. Finally, McIlrath & Eck LLC acquired a new position in Enovis during the fourth quarter valued at $152,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Stock Performance

Enovis stock traded down $0.00 on Friday, reaching $30.59. 79,869 shares of the stock were exchanged, compared to its average volume of 1,184,104. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Enovis Corporation has a twelve month low of $25.47 and a twelve month high of $49.83. The firm has a fifty day moving average price of $30.05 and a two-hundred day moving average price of $33.71. The stock has a market cap of $1.75 billion, a PE ratio of -2.15 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last posted 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. The business had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Sell-side analysts anticipate that Enovis Corporation will post 2.79 EPS for the current year.

Wall Street Analyst Weigh In

ENOV has been the topic of several recent analyst reports. 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. UBS Group dropped their price target on Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Needham & Company LLC dropped their price target on Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company dropped their price target on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Evercore ISI dropped their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $51.00.

Insider Transactions at Enovis

In other Enovis news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the purchase, the chief financial officer owned 116,729 shares of the company's stock, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the purchase, the senior vice president directly owned 43,515 shares of the company's stock, valued at $1,366,806.15. This trade represents a 7.94% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

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.