Public Sector Pension Investment Board Makes New $6.89 Million Investment in Enovis Corporation $ENOV

Key Points

• The Public Sector Pension Investment Board has made a new investment in Enovis Corporation, acquiring 180,294 shares valued at approximately $6.89 million.
• Analysts have recently adjusted their price targets for Enovis, with most lowering estimates; the consensus rating remains a "Buy" with a target price of $51.00.
• Enovis reported earnings of $0.79 per share for the last quarter, surpassing estimates and indicating a 7.5% increase in revenue compared to the same quarter last year.

Public Sector Pension Investment Board bought a new position in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 180,294 shares of the company's stock, valued at approximately $6,889,000. Public Sector Pension Investment Board owned about 0.32% of Enovis as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares during the last quarter. Quarry LP boosted its stake in Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the last quarter. GAMMA Investing LLC boosted its stake in Enovis by 144.8% during the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Enovis by 57.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock worth $74,000 after purchasing an additional 725 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Enovis by 56.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock valued at $143,000 after acquiring an additional 1,173 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Stock Up 2.8%

Shares of ENOV stock traded up $0.8250 during trading hours on Tuesday, reaching $30.3750. 886,842 shares of the stock were exchanged, compared to its average volume of 1,200,255. The business's fifty day moving average is $30.26 and its two-hundred day moving average is $34.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The firm has a market capitalization of $1.74 billion, a P/E ratio of -2.13 and a beta of 1.70. 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 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 the consensus estimate of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, research analysts expect that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ENOV shares. Evercore ISI lowered their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Canaccord Genuity Group lowered their price target on shares of Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. JMP Securities lowered their price target on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC lowered their price target on shares of Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, UBS Group lowered their price target on shares of Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $51.00.

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.