Institute for Wealth Management LLC. Invests $347,000 in Enovis Corporation (NYSE:ENOV)

Institute for Wealth Management LLC. bought a new position in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,082 shares of the company's stock, valued at approximately $347,000.

A number of other institutional investors have also made changes to their positions in ENOV. Hood River Capital Management LLC acquired a new position in Enovis in the 4th quarter worth $29,024,000. Paradigm Capital Management Inc. NY lifted its stake in shares of Enovis by 2,566.0% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after acquiring an additional 513,200 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Enovis in the fourth quarter worth about $16,407,000. ExodusPoint Capital Management LP lifted its stake in shares of Enovis by 919.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock worth $14,625,000 after acquiring an additional 300,605 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Enovis in the fourth quarter worth about $10,970,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ENOV shares. Canaccord Genuity Group cut their target price on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Needham & Company LLC cut their price target on shares of Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Enovis Trading Down 1.7%

Shares of NYSE ENOV opened at $30.13 on Friday. The stock's 50 day moving average price is $33.07 and its two-hundred day moving average price is $38.98. Enovis Corporation has a 52-week low of $29.13 and a 52-week high of $49.83. The stock has a market capitalization of $1.72 billion, a P/E ratio of -2.16 and a beta of 1.71. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 0.52.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $558.83 million for the quarter, compared to analyst estimates of $558.80 million. Enovis had a positive return on equity of 5.99% and a negative net margin of 37.65%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. On average, analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Enovis 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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