Nuveen LLC Makes New $9.03 Million Investment in Enovis Corporation $ENOV

Key Points

• Nuveen LLC acquired a new stake in Enovis Corporation, purchasing 236,299 shares valued at approximately $9 million, representing 0.41% ownership as of their latest SEC filing.
• Multiple institutional investors have increased their positions in Enovis, with hedge funds and institutional investors now owning 98.45% of the company's stock.
• Analysts have recently downgraded their price targets for Enovis, with the average target now at $51.00 and six analysts maintaining a "Buy" rating on the stock.

Nuveen LLC purchased a new stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 236,299 shares of the company's stock, valued at approximately $9,029,000. Nuveen LLC owned approximately 0.41% of Enovis at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in Enovis by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 52,236 shares of the company's stock worth $2,292,000 after buying an additional 350 shares during the last quarter. US Bancorp DE grew its stake in shares of Enovis by 2.5% in the first quarter. US Bancorp DE now owns 19,031 shares of the company's stock worth $727,000 after purchasing an additional 462 shares in the last quarter. Leisure Capital Management grew its stake in shares of Enovis by 2.2% in the first quarter. Leisure Capital Management now owns 22,903 shares of the company's stock worth $875,000 after purchasing an additional 489 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Enovis by 266.7% in 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. Finally, GAMMA Investing LLC grew its stake in shares of Enovis by 144.8% in the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Enovis Stock Down 2.2%

Enovis stock traded down $0.69 during mid-day trading on Thursday, hitting $30.33. The company's stock had a trading volume of 576,101 shares, compared to its average volume of 1,186,918. The firm's 50 day moving average is $30.05 and its 200 day moving average is $33.81. The company has a market cap of $1.73 billion, a PE ratio of -2.13 and a beta of 1.70. 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 Corporation has a 52-week low of $25.47 and a 52-week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share 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 for the quarter, compared to analyst estimates of $555.80 million. During the same period in the prior year, the firm posted $0.62 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ENOV shares. UBS Group decreased their price target on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Needham & Company LLC cut their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JMP Securities cut their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a report on Friday, May 9th. Wells Fargo & Company cut their price objective on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Evercore ISI cut their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $51.00.

Insider Transactions at Enovis

In related news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $29.71 per share, with a total value of $74,275.00. Following the acquisition, the chief financial officer 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Bradley J. Tandy bought 3,200 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the acquisition, the senior vice president directly owned 43,515 shares in the company, valued at approximately $1,366,806.15. The trade was a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company's stock.

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.