Rhumbline Advisers Reduces Holdings in 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 decreased its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 14.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 130,203 shares of the company's stock after selling 22,425 shares during the period. Rhumbline Advisers owned 0.23% of Enovis worth $4,975,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ENOV. Nuveen Asset Management LLC raised its holdings in shares of Enovis by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 219,989 shares of the company's stock valued at $9,653,000 after acquiring an additional 1,678 shares in the last quarter. Nomura Holdings Inc. bought a new position in Enovis during the 4th quarter worth approximately $330,000. Point72 Asset Management L.P. bought a new position in Enovis during the 4th quarter worth approximately $2,789,000. Royal Bank of Canada grew its position in shares of Enovis by 25.0% in the 4th 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 during the last quarter. Finally, Snowden Capital Advisors LLC bought a new stake in shares of Enovis in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other Enovis news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $29.71 per share, for a total transaction of $74,275.00. Following the acquisition, the chief financial officer owned 116,729 shares in the company, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the firm's 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 acquisition, the senior vice president owned 43,515 shares in the company, valued at approximately $1,366,806.15. The trade was a 7.94% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 12,157 shares of company stock worth $374,760 over the last 90 days. Company insiders own 2.70% of the company's stock.

Enovis Trading Up 0.7%

Shares of ENOV stock opened at $31.80 on Friday. The company has a market cap of $1.82 billion, a PE ratio of -2.23 and a beta of 1.68. The stock's 50 day simple moving average is $29.85 and its two-hundred day simple moving average is $32.71. Enovis Corporation has a 1 year low of $25.47 and a 1 year high of $49.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.05. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The firm had revenue of $564.50 million for the quarter, compared to analysts' expectations of $555.80 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Research analysts predict that Enovis Corporation will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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