51,630 Shares in Enovis Corporation $ENOV Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has acquired a new position in Enovis Corporation, purchasing 51,630 shares valued at approximately $1.97 million during the first quarter.
• Other institutional investors, including Vanguard Group Inc. and Victory Capital Management Inc., have significantly increased their stakes in Enovis, reflecting strong institutional interest.
• Enovis reported better-than-expected earnings, with $0.79 EPS for the quarter, surpassing analysts' estimates of $0.74, alongside a year-over-year revenue increase of 7.5%.

Quantbot Technologies LP purchased a new position in Enovis Corporation (NYSE:ENOV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,630 shares of the company's stock, valued at approximately $1,973,000. Quantbot Technologies LP owned 0.09% of Enovis at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its position 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 during the period. Quarry LP boosted its position in shares of Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after acquiring an additional 749 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Enovis by 144.8% during the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after acquiring an additional 692 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Enovis by 57.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock worth $74,000 after acquiring an additional 725 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Enovis during the fourth quarter worth $152,000. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enovis

In other news, SVP Bradley J. Tandy bought 3,200 shares of Enovis stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $31.41 per share, with a total value of $100,512.00. Following the completion of the purchase, the senior vice president owned 43,515 shares in the company, valued at $1,366,806.15. The trade was a 7.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Phillip Benjamin (Ben) Berry bought 2,500 shares of Enovis stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the purchase, the chief financial officer owned 116,729 shares of the company's stock, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI dropped their target price 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. JMP Securities dropped their target price on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Wells Fargo & Company dropped their target price 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. Canaccord Genuity Group dropped their target price 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. Finally, Needham & Company LLC dropped their target price 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. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Enovis presently has an average rating of "Buy" and an average price target of $51.00.

Enovis Price Performance

ENOV stock traded down $0.46 during trading on Monday, hitting $30.98. 766,137 shares of the company's stock traded hands, compared to its average volume of 1,191,550. Enovis Corporation has a 52 week low of $25.47 and a 52 week high of $49.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The business has a fifty day simple moving average of $30.06 and a 200 day simple moving average of $33.93. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -2.17 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. During the same quarter last year, the business earned $0.62 earnings per share. Enovis's quarterly 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. As a group, research 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.