London Co. of Virginia Boosts Stake in Enovis Corporation $ENOV

Key Points

• London Co. of Virginia increased its stake in Enovis by 12.0% in Q1, buying 44,610 additional shares and bringing its holdings to 416,582 shares worth about $9.48 million.
• Enovis reported better-than-expected first-quarter earnings, posting $0.89 EPS versus $0.82 expected and revenue of $589.15 million, up 5.4% year over year.
• Analysts remain cautiously positive on the stock, with a Moderate Buy consensus and an average target price of $41.71, though some recent ratings have been mixed.

London Co. of Virginia grew its stake in Enovis Corporation (NYSE:ENOV - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,582 shares of the company's stock after buying an additional 44,610 shares during the quarter. London Co. of Virginia owned approximately 0.72% of Enovis worth $9,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in shares of Enovis by 11.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company's stock valued at $20,086,000 after purchasing an additional 78,497 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in Enovis during the fourth quarter valued at about $2,929,000. Impax Asset Management Group plc lifted its position in shares of Enovis by 36.5% in the fourth quarter. Impax Asset Management Group plc now owns 424,130 shares of the company's stock valued at $11,299,000 after acquiring an additional 113,500 shares in the last quarter. Bernzott Capital Advisors boosted its stake in shares of Enovis by 47.4% in the first quarter. Bernzott Capital Advisors now owns 294,125 shares of the company's stock worth $6,691,000 after acquiring an additional 94,529 shares during the period. Finally, Invenomic Capital Management LP grew its position in shares of Enovis by 6.2% during the fourth quarter. Invenomic Capital Management LP now owns 756,717 shares of the company's stock worth $20,159,000 after purchasing an additional 44,048 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Enovis Stock Performance

Enovis stock opened at $27.05 on Friday. The company's 50-day moving average price is $23.65 and its 200-day moving average price is $23.78. Enovis Corporation has a twelve month low of $19.14 and a twelve month high of $34.28. The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.56 billion, a PE ratio of -1.36 and a beta of 1.39.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The firm had revenue of $589.15 million during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter last year, the firm earned $0.81 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, equities research analysts forecast that Enovis Corporation will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Enovis

In related news, insider Oliver Engert purchased 1,200 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the acquisition, the insider owned 51,840 shares of the company's stock, valued at approximately $1,120,780.80. This represents a 2.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 4,200 shares of company stock worth $92,084. Insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. William Blair started coverage on Enovis in a research note on Friday, April 17th. They issued an "outperform" rating for the company. Wells Fargo & Company dropped their target price on shares of Enovis from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. BMO Capital Markets assumed coverage on shares of Enovis in a report on Wednesday, July 8th. They issued an "outperform" rating and a $29.00 price target on the stock. Zacks Research downgraded shares of Enovis from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 30th. Finally, Wall Street Zen raised Enovis from a "hold" rating to a "buy" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.71.

Enovis Profile

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.