Rhumbline Advisers Sells 22,425 Shares of Enovis Corporation $ENOV

Key Points

• Rhumbline Advisers reduced its stake in Enovis Corporation by 14.7%, owning now 130,203 shares worth approximately $4.98 million after selling 22,425 shares.
• Enovis CFO Phillip Benjamin Berry and SVP Bradley J. Tandy have both made recent stock purchases, increasing their positions by 2.19% and 7.94% respectively.
• Enovis has a current market cap of $1.82 billion, with a recent quarterly revenue of $564.50 million, marking a 7.5% year-over-year increase.

Rhumbline Advisers reduced its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,203 shares of the company's stock after selling 22,425 shares during the period. Rhumbline Advisers owned about 0.23% of Enovis worth $4,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings 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 buying an additional 536 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Enovis by 144.8% in the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Enovis by 57.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock worth $74,000 after purchasing an additional 725 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Enovis in the fourth quarter worth $152,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Enovis in the first quarter worth $198,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enovis

In other Enovis news, CEO Damien Mcdonald acquired 6,457 shares of the stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $30.97 per share, for a total transaction of $199,973.29. Following the completion of the transaction, the chief executive officer directly owned 102,753 shares of the company's stock, valued at $3,182,260.41. This trade represents a 6.71% 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, SVP Bradley J. Tandy acquired 3,200 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 43,515 shares of the company's stock, valued at $1,366,806.15. The trade was a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 12,157 shares of company stock worth $374,760 over the last 90 days. 2.70% of the stock is owned by insiders.

Enovis Price Performance

ENOV traded up $1.06 during trading on Thursday, hitting $33.19. 1,100,607 shares of the company traded hands, compared to its average volume of 959,572. The company has a market cap of $1.90 billion, a PE ratio of -2.33 and a beta of 1.68. The stock's 50-day simple moving average is $29.68 and its two-hundred day simple moving average is $32.60. Enovis Corporation has a 1 year low of $25.47 and a 1 year high of $49.83. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

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, sell-side analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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