Petrus Trust Company LTA Buys Shares of 8,781 Enovis Corporation $ENOV

Key Points

• Petrus Trust Company LTA acquired a new stake in Enovis Corporation, purchasing 8,781 shares valued at approximately $336,000 in Q1 2023.
• Institutional investors hold 98.45% of Enovis's stock, indicating strong institutional interest in the company.
• Enovis reported a quarterly EPS of $0.79, exceeding analyst estimates, while its revenue increased by 7.5% year-over-year.

Petrus Trust Company LTA bought a new stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,781 shares of the company's stock, valued at approximately $336,000.

Several other institutional investors also recently bought and sold shares of ENOV. Farther Finance Advisors LLC grew its stake in Enovis by 266.7% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 536 shares in the last quarter. GAMMA Investing LLC grew its stake in Enovis by 144.8% during the first 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 grew its stake in Enovis by 57.7% during the first 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. McIlrath & Eck LLC purchased a new position in Enovis during the fourth quarter valued at $152,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Enovis during the first quarter valued at $198,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Enovis

In related news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $29.71 per share, for a total transaction of $74,275.00. Following the acquisition, the chief financial officer directly owned 116,729 shares of the company's stock, valued at $3,468,018.59. This represents a 2.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $31.41 per share, with a total value of $100,512.00. Following the acquisition, the senior vice president directly owned 43,515 shares in the company, valued at $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 12,157 shares of company stock worth $374,760. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Enovis Trading Up 0.7%

Shares of Enovis stock traded up $0.22 during trading on Friday, hitting $31.80. The stock had a trading volume of 1,165,954 shares, compared to its average volume of 894,955. The firm's fifty day simple moving average is $29.85 and its 200-day simple moving average is $32.68. The stock has a market cap of $1.82 billion, a PE ratio of -2.23 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 Corporation has a 12 month low of $25.47 and a 12 month high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last released its 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. The firm had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, sell-side analysts expect that Enovis Corporation will post 2.79 EPS for the current fiscal year.

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.