Northern Trust Corp Sells 102,365 Shares of Enovis Corporation $ENOV

Key Points

• Northern Trust Corp reduced its stake in Enovis Corporation by 18.7% in the first quarter, now holding approximately 445,321 shares valued at $17 million.
• Insider trading activity included CFO Ben Berry purchasing 2,500 shares at an average price of $29.71, increasing his stake by 2.19%.
• Several analysts have recently downgraded their price targets for Enovis, with a consensus buy rating and an average target price now set at $51.00.

Northern Trust Corp lowered its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 445,321 shares of the company's stock after selling 102,365 shares during the quarter. Northern Trust Corp owned about 0.78% of Enovis worth $17,016,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENOV. Comerica Bank boosted its stake in Enovis by 22.9% in the fourth quarter. Comerica Bank now owns 49,560 shares of the company's stock worth $2,175,000 after purchasing an additional 9,224 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Enovis by 110.2% during the fourth quarter. Jane Street Group LLC now owns 224,224 shares of the company's stock valued at $9,839,000 after acquiring an additional 117,540 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Enovis during the fourth quarter valued at $1,388,000. AXA S.A. lifted its stake in shares of Enovis by 208.4% during the fourth quarter. AXA S.A. now owns 92,909 shares of the company's stock valued at $4,077,000 after acquiring an additional 62,784 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of Enovis by 10.3% during the fourth quarter. Benjamin Edwards Inc. now owns 17,205 shares of the company's stock valued at $755,000 after acquiring an additional 1,610 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Trading Up 1.7%

Shares of Enovis stock traded up $0.55 during trading hours on Friday, hitting $32.10. The company's stock had a trading volume of 781,752 shares, compared to its average volume of 1,010,377. Enovis Corporation has a 12 month low of $25.47 and a 12 month high of $49.83. The stock has a 50 day moving average of $30.02 and a 200 day moving average of $33.10. The company has a market capitalization of $1.83 billion, a PE ratio of -2.25 and a beta of 1.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The company had revenue of $564.50 million during the quarter, compared to the consensus estimate of $555.80 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Analysts predict that Enovis Corporation will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ENOV shares. UBS Group cut their price target on Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Evercore ISI cut their target price on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Needham & Company LLC cut their target price on Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group cut their target price on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Enovis has an average rating of "Buy" and a consensus target price of $51.00.

Insider Activity

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the acquisition, the senior vice president directly owned 43,515 shares of the company's stock, valued at $1,366,806.15. The trade was a 7.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $29.71 per share, with a total value of $74,275.00. Following the completion of 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. 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.