Principal Financial Group Inc. Increases Stock Holdings in Enovis Corporation (NYSE:ENOV)

Principal Financial Group Inc. increased its stake in Enovis Corporation (NYSE:ENOV - Free Report) by 118.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,406 shares of the company's stock after purchasing an additional 153,232 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Enovis worth $10,791,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Enovis by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,486,130 shares of the company's stock worth $240,731,000 after purchasing an additional 75,348 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Enovis by 10.4% in the first quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock worth $116,489,000 after buying an additional 289,644 shares in the last quarter. Royce & Associates LP boosted its stake in Enovis by 2.8% in the fourth quarter. Royce & Associates LP now owns 2,470,576 shares of the company's stock worth $108,409,000 after buying an additional 66,891 shares in the last quarter. Boston Partners boosted its stake in Enovis by 27.1% in the fourth quarter. Boston Partners now owns 1,048,532 shares of the company's stock worth $46,034,000 after buying an additional 223,816 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Enovis by 25.0% in the fourth quarter. Royal Bank of Canada now owns 707,361 shares of the company's stock worth $31,038,000 after buying an additional 141,517 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ENOV shares. Needham & Company LLC cut their target price on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Canaccord Genuity Group cut their target price on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Evercore ISI decreased their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, JMP Securities decreased their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Trading Up 0.7%

Shares of NYSE:ENOV traded up $0.22 during trading on Thursday, reaching $30.76. 3,333,685 shares of the company traded hands, compared to its average volume of 918,078. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -2.21 and a beta of 1.70. Enovis Corporation has a 52-week low of $28.83 and a 52-week high of $49.83. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The business's fifty day moving average is $32.75 and its 200-day moving average is $37.32.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The firm had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. Enovis had a positive return on equity of 5.99% and a negative net margin of 37.65%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, analysts forecast that Enovis Corporation will post 2.79 EPS for the current 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.