Wedge Capital Management L L P NC Decreases Stock Holdings in Enovis Co. (NYSE:ENOV)

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

A number of other hedge funds have also modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in Enovis in the 4th quarter valued at about $29,000. Quadrant Capital Group LLC raised its position in shares of Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock valued at $30,000 after buying an additional 239 shares during the last quarter. Quarry LP raised its position in shares of Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after buying an additional 749 shares during the last quarter. Sterling Capital Management LLC lifted its stake 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 buying an additional 1,173 shares during the period. Finally, McIlrath & Eck LLC acquired a new stake in Enovis during the fourth quarter worth approximately $152,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Canaccord Genuity Group cut their price target on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Needham & Company LLC lowered their price objective on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, JMP Securities dropped 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Enovis Trading Down 3.1%

ENOV stock traded down $1.05 on Thursday, hitting $32.29. 1,069,784 shares of the company were exchanged, compared to its average volume of 828,717. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -14.74 and a beta of 1.71. The business's fifty day moving average is $33.22 and its two-hundred day moving average is $39.82. Enovis Co. has a twelve month low of $29.13 and a twelve month high of $49.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12.

Enovis (NYSE:ENOV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, topping 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 analyst estimates of $558.80 million. During the same period last year, the company posted $0.50 EPS. The business's quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast that Enovis Co. will post 2.79 earnings per share 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.