Enovis Corporation (NYSE:ENOV) Shares Bought by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp significantly increased its stake in Enovis Corporation by 86.8% during the first quarter, owning 245,965 shares valued at approximately $9.4 million.
• Several hedge funds, including Vanguard Group Inc. and DAVENPORT & Co LLC, also boosted their positions in Enovis, indicating a strong interest among institutional investors.
• Enovis reported a quarterly earnings per share (EPS) of $0.79, exceeding analyst expectations, and its revenue increased by 7.5% year-over-year.

King Luther Capital Management Corp grew its position in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 86.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,965 shares of the company's stock after purchasing an additional 114,303 shares during the period. King Luther Capital Management Corp owned approximately 0.43% of Enovis worth $9,398,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Entropy Technologies LP increased its stake in Enovis by 135.2% in the 1st quarter. Entropy Technologies LP now owns 17,183 shares of the company's stock worth $657,000 after purchasing an additional 9,878 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in Enovis in the 1st quarter worth approximately $734,000. Charles Schwab Investment Management Inc. lifted its holdings in Enovis by 10.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 712,810 shares of the company's stock worth $27,236,000 after purchasing an additional 67,021 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enovis by 11.3% during the first quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock worth $233,356,000 after buying an additional 621,069 shares during the last quarter. Finally, Leisure Capital Management increased its position in shares of Enovis by 2.2% during the first quarter. Leisure Capital Management now owns 22,903 shares of the company's stock valued at $875,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Enovis Trading Up 2.2%

Shares of NYSE ENOV traded up $0.63 during trading hours on Tuesday, hitting $28.74. The company's stock had a trading volume of 1,060,197 shares, compared to its average volume of 1,629,656. The business has a 50-day simple moving average of $30.47 and a 200-day simple moving average of $34.96. 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 stock has a market cap of $1.64 billion, a price-to-earnings ratio of -2.02 and a beta of 1.70. Enovis Corporation has a 12 month low of $25.47 and a 12 month high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. During the same period in the previous year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ENOV shares. Evercore ISI reduced 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. Wells Fargo & Company decreased their price objective on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a report on Friday. Canaccord Genuity Group decreased their price target on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Friday. UBS Group dropped their price target on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a report on Friday. Finally, Needham & Company LLC lowered their price target on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $51.00.

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.