Raymond James Financial Inc. Sells 87,327 Shares of Enovis Corporation $ENOV

Key Points

• Raymond James Financial Inc. reduced its stake in Enovis Corporation (NYSE:ENOV) by 23.4%, selling 87,327 shares, leaving it with approximately 0.50% ownership valued at $10.95 million.
• Enovis reported $0.79 earnings per share for the recent quarter, exceeding expectations, with revenue up 7.5% year-over-year at $564.5 million.
• Multiple analysts have recently downgraded their price targets for Enovis, with a consensus rating of "Buy" and an average price target of $51.00.

Raymond James Financial Inc. lessened its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286,584 shares of the company's stock after selling 87,327 shares during the quarter. Raymond James Financial Inc. owned approximately 0.50% of Enovis worth $10,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ENOV. Farther Finance Advisors LLC boosted its holdings in shares of Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock valued at $27,000 after buying an additional 536 shares in the last quarter. Quarry LP raised its stake in shares of Enovis by 506.1% in the fourth 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 raised its position in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after buying an additional 692 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position 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 purchasing an additional 725 shares during the period. Finally, McIlrath & Eck LLC purchased a new position in shares of Enovis in the 4th quarter worth $152,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enovis Price Performance

Enovis stock traded down $0.17 during midday trading on Wednesday, reaching $30.67. 1,176,595 shares of the stock traded hands, compared to its average volume of 1,187,458. The stock has a market cap of $1.75 billion, a P/E ratio of -2.15 and a beta of 1.68. The stock's fifty day moving average is $30.06 and its 200-day moving average is $33.37. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. 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 issued its quarterly earnings data 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 business had revenue of $564.50 million for the quarter, compared to analysts' expectations of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, equities research analysts anticipate that Enovis Corporation will post 2.79 EPS for the current year.

Insider Buying and Selling at Enovis

In other Enovis news, SVP Bradley J. Tandy acquired 3,200 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average price 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 of the company's stock, valued at $1,366,806.15. This trade represents a 7.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 acquired at an average price of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the acquisition, the chief financial officer 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 disclosure for this purchase can be found here. 2.70% of the stock is owned by company 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.