Enovis Corporation $ENOV Shares Purchased by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management Inc. NY increased its holdings in Enovis Corporation by 47.5%, acquiring an additional 253,200 shares, bringing their total ownership to approximately 1.38% of the company.
• Analyst perspectives on Enovis show a range of price target reductions, with several firms maintaining a "buy" rating despite lowering targets, reflecting a mixed sentiment in the market.
• Enovis Corporation reported better-than-expected earnings with an EPS of $0.79, surpassing estimates of $0.74, and experiencing a year-over-year revenue increase of 7.5% during the last quarter.

Paradigm Capital Management Inc. NY lifted its position in Enovis Corporation (NYSE:ENOV - Free Report) by 47.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 786,400 shares of the company's stock after purchasing an additional 253,200 shares during the quarter. Enovis accounts for about 1.7% of Paradigm Capital Management Inc. NY's holdings, making the stock its 20th largest holding. Paradigm Capital Management Inc. NY owned approximately 1.38% of Enovis worth $30,048,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Enovis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after purchasing an additional 621,069 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Enovis by 10.4% in the 1st quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock worth $116,489,000 after acquiring an additional 289,644 shares in the last quarter. Victory Capital Management Inc. increased its position in Enovis by 734.5% during the 1st quarter. Victory Capital Management Inc. now owns 275,058 shares of the company's stock valued at $10,510,000 after buying an additional 242,096 shares in the last quarter. Nuveen LLC bought a new position in Enovis during the 1st quarter valued at approximately $9,029,000. Finally, Public Sector Pension Investment Board bought a new position in Enovis during the 1st quarter valued at approximately $6,889,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JMP Securities cut their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group decreased their target price on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Evercore ISI decreased their target price on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. UBS Group decreased their price target on Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Wells Fargo & Company decreased their price target on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $51.00.

Enovis Trading Down 0.6%

Shares of NYSE:ENOV traded down $0.17 during trading hours on Wednesday, hitting $30.67. 1,176,595 shares of the company's stock traded hands, compared to its average volume of 1,059,083. Enovis Corporation has a 1 year low of $25.47 and a 1 year high of $49.83. The business has a fifty day moving average price of $30.03 and a 200-day moving average price of $33.35. The firm has a market capitalization of $1.75 billion, a P/E ratio of 9.34 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, beating analysts' consensus estimates of $0.74 by $0.05. The firm had revenue of $564.50 million during 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%.Enovis's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Equities analysts expect that Enovis Corporation will post 2.79 earnings per share for the current year.

Insider Buying and Selling at Enovis

In other news, CFO Phillip Benjamin (Ben) Berry bought 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $29.71 per share, with a total value of $74,275.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bradley J. Tandy purchased 3,200 shares of the business's stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the transaction, the senior vice president directly owned 43,515 shares in the company, valued at $1,366,806.15. This trade represents a 7.94% increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

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.