Wedge Capital Management L L P NC Lowers Stake in Enovis Co. (NYSE:ENOV)

Wedge Capital Management L L P NC trimmed its stake in Enovis Co. (NYSE:ENOV - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,479 shares of the company's stock after selling 14,483 shares during the period. Wedge Capital Management L L P NC owned 0.29% of Enovis worth $6,208,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ENOV. Empowered Funds LLC purchased a new stake in Enovis in the fourth quarter worth about $253,000. Entropy Technologies LP raised its position in shares of Enovis by 8.9% in the 4th quarter. Entropy Technologies LP now owns 7,305 shares of the company's stock worth $321,000 after acquiring an additional 598 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Enovis in the 4th quarter valued at approximately $3,740,000. Avidian Wealth Enterprises LLC purchased a new position in shares of Enovis in the 4th quarter valued at approximately $262,000. Finally, New York State Teachers Retirement System boosted its position in shares of Enovis by 3.5% during the fourth quarter. New York State Teachers Retirement System now owns 13,538 shares of the company's stock valued at $594,000 after purchasing an additional 457 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Enovis Stock Up 3.6%

NYSE:ENOV traded up $1.15 on Monday, reaching $32.94. 1,987,589 shares of the stock traded hands, compared to its average volume of 823,028. The company's fifty day simple moving average is $33.29 and its 200 day simple moving average is $40.00. Enovis Co. has a 12 month low of $29.13 and a 12 month high of $49.83. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -15.04 and a beta of 1.71.

Enovis (NYSE:ENOV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, beating the consensus estimate 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 business had revenue of $558.83 million for the quarter, compared to the consensus estimate of $558.80 million. During the same period last year, the business posted $0.50 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.