Lecap Asset Management Ltd. Buys New Stake in Enovis Corporation $ENOV

Key Points

• Lecap Asset Management Ltd. has acquired a new stake in Enovis Corporation, purchasing 11,803 shares valued at approximately $370,000 in the second quarter.
• Several hedge funds are actively increasing their investments in Enovis, with Farther Finance Advisors LLC raising its stake by 266.7% during the first quarter.
• Wall Street analysts have mixed views on Enovis, with target price reductions from multiple brokerages, while still maintaining a 'Moderate Buy' average rating.

Lecap Asset Management Ltd. purchased a new stake in Enovis Corporation (NYSE:ENOV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,803 shares of the company's stock, valued at approximately $370,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased 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 in the last quarter. GAMMA Investing LLC grew its stake in Enovis by 144.8% during the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after buying an additional 692 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in 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 buying an additional 725 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Enovis in the first quarter valued at approximately $198,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Enovis by 52.2% in the first quarter. McIlrath & Eck LLC now owns 5,274 shares of the company's stock valued at $202,000 after acquiring an additional 1,808 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENOV. Canaccord Genuity Group cut their target price on shares of Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Enovis in a research report on Saturday, September 27th. Needham & Company LLC dropped their price objective on shares of Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. UBS Group decreased their price objective on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $51.00.

Enovis Trading Up 4.8%

Shares of ENOV opened at $32.02 on Friday. Enovis Corporation has a twelve month low of $25.47 and a twelve month high of $49.83. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.83 billion, a P/E ratio of -2.25 and a beta of 1.69. The firm's 50-day moving average is $30.09 and its two-hundred day moving average is $32.13.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.79 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, research analysts predict that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Enovis

In other Enovis news, SVP Bradley J. Tandy bought 3,200 shares of the business's stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the transaction, the senior vice president owned 43,515 shares in the company, valued at approximately $1,366,806.15. The trade was a 7.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of Enovis stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the acquisition, the chief financial officer directly owned 116,729 shares of the company's stock, valued at approximately $3,468,018.59. This represents a 2.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,157 shares of company stock worth $374,760. 2.70% of the stock is owned by corporate insiders.

About Enovis

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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