Enovis Corporation $ENOV Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its stake in Enovis Corporation by 40.1%, now owning approximately $1.87 million worth of shares.
• Analysts have adjusted their price targets for Enovis, with recent cuts from firms like Needham, JMP Securities, and Wells Fargo, leading to a consensus price target of $51.00.
• Enovis reported better-than-expected quarterly earnings of $0.79 per share, surpassing the consensus estimate of $0.74, with revenues increasing by 7.5% year-over-year.

LPL Financial LLC grew its position in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,949 shares of the company's stock after purchasing an additional 14,013 shares during the period. LPL Financial LLC owned about 0.09% of Enovis worth $1,870,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock valued at $27,000 after purchasing an additional 536 shares during the period. Quarry LP boosted its position in shares of Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares in the last quarter. GAMMA Investing LLC lifted its position in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock valued at $45,000 after acquiring an additional 692 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Enovis by 57.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock valued at $74,000 after acquiring an additional 725 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Enovis during the 4th quarter valued at $152,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ENOV. UBS Group reduced their price objective on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Evercore ISI lowered their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Needham & Company LLC reduced their target price on shares of Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. JMP Securities cut their price objective 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. Finally, Wells Fargo & Company cut their price target 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $51.00.

Insider Buying and Selling at Enovis

In other Enovis news, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the purchase, the chief financial officer directly owned 116,729 shares in the company, valued at approximately $3,468,018.59. The trade was a 2.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $31.41 per share, with a total value 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. This represents a 7.94% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

Enovis Price Performance

ENOV stock traded down $0.4650 during mid-day trading on Monday, reaching $30.9750. The company's stock had a trading volume of 304,108 shares, compared to its average volume of 1,188,472. The company's 50 day moving average is $30.06 and its two-hundred day moving average is $33.93. The stock has a market cap of $1.77 billion, a PE ratio of -2.17 and a beta of 1.70. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Enovis Corporation has a fifty-two week low of $25.47 and a fifty-two week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last released 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. The company 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 firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Equities research analysts expect that Enovis Corporation will post 2.79 EPS for the current year.

Enovis Company 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.