Vanguard Group Inc. Boosts Stake in Enovis Corporation $ENOV

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Vanguard Group Inc. lifted its stake in Enovis Corporation (NYSE:ENOV - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,107,199 shares of the company's stock after buying an additional 621,069 shares during the period. Vanguard Group Inc. owned approximately 10.69% of Enovis worth $233,356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Enovis in the 4th quarter worth approximately $16,407,000. Sterling Capital Management LLC raised its holdings in shares of Enovis by 56.2% during the fourth 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 in the last quarter. Mariner LLC lifted its stake in Enovis by 16.8% in the fourth quarter. Mariner LLC now owns 7,925 shares of the company's stock worth $348,000 after acquiring an additional 1,142 shares during the period. Marshall Wace LLP bought a new stake in Enovis in the fourth quarter valued at $6,210,000. Finally, First Trust Advisors LP increased its position in Enovis by 11.7% during the 4th quarter. First Trust Advisors LP now owns 402,483 shares of the company's stock valued at $17,661,000 after purchasing an additional 42,216 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of Enovis stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the purchase, the chief financial officer owned 116,729 shares in the company, valued at $3,468,018.59. This trade represents a 2.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ENOV shares. Canaccord Genuity Group dropped their target price on shares of Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Needham & Company LLC lowered their price objective on shares of Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Evercore ISI cut their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company decreased their target price on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, JMP Securities lowered their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $51.00.

Enovis Stock Up 7.0%

Shares of ENOV traded up $2.0540 during mid-day trading on Friday, reaching $31.5540. The company had a trading volume of 374,406 shares, compared to its average volume of 1,190,688. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -2.21 and a beta of 1.70. The firm has a 50-day moving average price of $30.07 and a 200 day moving average price of $34.20. Enovis Corporation has a 52 week low of $25.47 and a 52 week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.79 earnings per share (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 business had revenue of $564.50 million during the quarter, compared to analysts' expectations of $555.80 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm'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. On average, sell-side analysts forecast that Enovis Corporation will post 2.79 EPS for the current year.

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.