Woodline Partners LP Acquires 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 lifted its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 86.7% during the 1st quarter, according to its most recent disclosure 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 0.64% of Enovis worth $13,943,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in shares of Enovis by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 52,236 shares of the company's stock worth $2,292,000 after purchasing an additional 350 shares during the last quarter. Humankind Investments LLC grew its holdings 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 holdings in shares of Enovis by 2.5% during the first quarter. US Bancorp DE now owns 19,031 shares of the company's stock worth $727,000 after purchasing an additional 462 shares during the last quarter. Leisure Capital Management grew its holdings in shares of Enovis by 2.2% during the first quarter. Leisure Capital Management now owns 22,903 shares of the company's stock worth $875,000 after purchasing an additional 489 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Enovis by 266.7% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Transactions at Enovis

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $31.41 per share, with a total value of $100,512.00. Following the completion of the transaction, the senior vice president directly owned 43,515 shares in the company, valued at $1,366,806.15. This trade represents a 7.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the transaction, the chief financial officer owned 116,729 shares of the company's stock, valued at $3,468,018.59. This trade represents a 2.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

Enovis Price Performance

Shares of ENOV opened at $30.50 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Enovis Corporation has a 1 year low of $25.47 and a 1 year high of $49.83. The stock has a market cap of $1.74 billion, a P/E ratio of -2.14 and a beta of 1.68. The stock's 50-day moving average price is $29.93 and its two-hundred day moving average price is $32.92.

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

Analyst Upgrades and Downgrades

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

About Enovis

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.

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