Woodline Partners LP Purchases 169,487 Shares of Enovis Corporation $ENOV

Key Points

• Woodline Partners LP has significantly increased its stake in Enovis Corporation, acquiring an additional 169,487 shares, bringing their total ownership to 364,895 shares, valued at $13.9 million.
• In recent insider transactions, SVP Bradley J. Tandy and CFO Phillip Benjamin (Ben) Berry each purchased shares, indicating confidence in the company's future performance.
• Enovis Corporation reported earnings of $0.79 per share for the last quarter, surpassing analysts' expectations, with a revenue of $564.5 million—7.5% higher than the same quarter last year.

Woodline Partners LP boosted its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 86.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 364,895 shares of the company's stock after purchasing an additional 169,487 shares during the period. Woodline Partners LP owned approximately 0.64% of Enovis worth $13,943,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. California State Teachers Retirement System increased its position in Enovis by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 52,236 shares of the company's stock valued at $2,292,000 after acquiring an additional 350 shares during the period. Humankind Investments LLC raised its stake in shares of Enovis by 8.6% during the first quarter. Humankind Investments LLC now owns 5,688 shares of the company's stock worth $217,000 after purchasing an additional 452 shares during the last quarter. US Bancorp DE grew its position in Enovis by 2.5% in the 1st quarter. US Bancorp DE now owns 19,031 shares of the company's stock valued at $727,000 after buying an additional 462 shares during the last quarter. Leisure Capital Management increased its stake in Enovis by 2.2% in the 1st quarter. Leisure Capital Management now owns 22,903 shares of the company's stock valued at $875,000 after buying an additional 489 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after buying an additional 536 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Stock Performance

Enovis stock traded down $0.13 during mid-day trading on Tuesday, reaching $32.21. The company's stock had a trading volume of 145,178 shares, compared to its average volume of 1,168,542. 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 $1.84 billion, a P/E ratio of -2.26 and a beta of 1.68. Enovis Corporation has a 12-month low of $25.47 and a 12-month high of $49.83. The firm's fifty day moving average price is $29.84 and its two-hundred day moving average price is $32.63.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. During the same period last year, the business earned $0.62 earnings per share. Enovis's 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. Sell-side analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Insider Activity at Enovis

In other Enovis news, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $29.71 per share, with a total value of $74,275.00. Following the transaction, the chief financial officer directly owned 116,729 shares of the company's stock, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Damien Mcdonald purchased 6,457 shares of Enovis stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $30.97 per share, for a total transaction of $199,973.29. Following the transaction, the chief executive officer directly owned 102,753 shares of the company's stock, valued at $3,182,260.41. This trade represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 12,157 shares of company stock worth $374,760 in the last three months. 2.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Needham & Company LLC dropped their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Canaccord Genuity Group reduced their target price on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Evercore ISI lowered their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Enovis has a consensus rating of "Buy" and a consensus price target of $51.00.

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.