Enovis Co. (NYSE:ENOV) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its stake in shares of Enovis Co. (NYSE:ENOV - Free Report) by 25.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 707,361 shares of the company's stock after acquiring an additional 141,517 shares during the period. Royal Bank of Canada owned 1.24% of Enovis worth $31,038,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ENOV. Aster Capital Management DIFC Ltd purchased a new stake in Enovis during the fourth quarter valued at $29,000. Quadrant Capital Group LLC increased its holdings in shares of Enovis by 53.0% in the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after buying an additional 239 shares during the last quarter. UMB Bank n.a. raised its position in shares of Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company's stock valued at $34,000 after buying an additional 437 shares in the last quarter. Quarry LP lifted its holdings in shares of Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 749 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Enovis by 56.2% in 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. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities reduced their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Needham & Company LLC dropped their target price on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Canaccord Genuity Group decreased their price target on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Enovis Trading Up 6.0%

Shares of NYSE:ENOV traded up $1.88 on Tuesday, hitting $33.44. 1,145,266 shares of the company's stock were exchanged, compared to its average volume of 788,510. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -15.27 and a beta of 1.79. Enovis Co. has a 12 month low of $29.32 and a 12 month high of $51.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The business's 50 day simple moving average is $34.57 and its two-hundred day simple moving average is $40.91.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $558.83 million during the quarter, compared to analysts' expectations of $558.80 million. During the same period in the previous year, the company earned $0.50 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Analysts anticipate that Enovis Co. 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.