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

Royal Bank of Canada grew its stake in Enovis Co. (NYSE:ENOV - Free Report) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707,361 shares of the company's stock after acquiring an additional 141,517 shares during the quarter. Royal Bank of Canada owned about 1.24% of Enovis worth $31,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Enovis in the 4th quarter valued at $29,000. Quadrant Capital Group LLC grew its stake in Enovis by 53.0% during 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. grew its stake in Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company's stock worth $34,000 after buying an additional 437 shares during the last quarter. Quarry LP grew its stake in Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after buying an additional 749 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in Enovis by 56.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock worth $143,000 after buying an additional 1,173 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Enovis Stock Performance

ENOV traded down $0.32 on Thursday, reaching $32.25. 126,450 shares of the stock were exchanged, compared to its average volume of 789,690. The company's 50-day moving average price is $34.32 and its 200 day moving average price is $40.80. Enovis Co. has a fifty-two week low of $29.32 and a fifty-two week 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 firm has a market capitalization of $1.84 billion, a PE ratio of -14.71 and a beta of 1.79.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company had revenue of $558.83 million during the quarter, compared to analysts' expectations of $558.80 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

ENOV has been the topic of several research analyst reports. JMP Securities dropped their target price 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 on the stock in a research note on Friday, May 9th. Finally, Canaccord Genuity Group dropped their target price on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.