Enovis Corporation (NYSE:ENOV) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System raised its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 72.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,800 shares of the company's stock after acquiring an additional 11,300 shares during the quarter. Louisiana State Employees Retirement System's holdings in Enovis were worth $1,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ENOV. HighTower Advisors LLC acquired a new position in Enovis during the 4th quarter valued at $275,000. Swiss National Bank increased its holdings in Enovis by 2.5% in the 4th quarter. Swiss National Bank now owns 109,800 shares of the company's stock valued at $4,818,000 after buying an additional 2,700 shares during the period. Commonwealth Equity Services LLC bought a new stake in Enovis in the 4th quarter valued at $402,000. Natixis Advisors LLC increased its position in shares of Enovis by 52.8% during the 4th quarter. Natixis Advisors LLC now owns 19,381 shares of the company's stock worth $850,000 after purchasing an additional 6,701 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Enovis by 19.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company's stock worth $677,000 after purchasing an additional 2,518 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Enovis Stock Performance

Enovis stock traded down $4.57 during mid-day trading on Friday, reaching $26.29. 3,974,842 shares of the stock traded hands, compared to its average volume of 932,407. The stock has a market capitalization of $1.50 billion, a PE ratio of 8.37 and a beta of 1.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. Enovis Corporation has a 12-month low of $26.00 and a 12-month high of $49.83. The business's 50-day moving average is $32.61 and its 200-day moving average is $37.15.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $558.83 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. As a group, sell-side analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ENOV shares. Evercore ISI reduced their target price on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. JMP Securities reduced their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. Needham & Company LLC lowered their price target on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Canaccord Genuity Group decreased their price target on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.60.

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.