Mercer Global Advisors Inc. ADV Invests $1.39 Million in Enovis Co. (NYSE:ENOV)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of Enovis Co. (NYSE:ENOV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,639 shares of the company's stock, valued at approximately $1,388,000. Mercer Global Advisors Inc. ADV owned approximately 0.06% of Enovis as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ENOV. Jane Street Group LLC lifted its holdings in shares of Enovis by 110.2% during the fourth quarter. Jane Street Group LLC now owns 224,224 shares of the company's stock valued at $9,839,000 after purchasing an additional 117,540 shares in the last quarter. Comerica Bank raised its position in Enovis by 22.9% in the 4th quarter. Comerica Bank now owns 49,560 shares of the company's stock worth $2,175,000 after buying an additional 9,224 shares during the last quarter. Northern Trust Corp lifted its stake in Enovis by 15.8% during the 4th quarter. Northern Trust Corp now owns 547,686 shares of the company's stock valued at $24,032,000 after acquiring an additional 74,836 shares during the period. Quarry LP boosted its holdings in shares of Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 749 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Enovis in the fourth quarter worth approximately $10,970,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Stock Performance

Shares of NYSE:ENOV traded down $0.03 during trading on Friday, hitting $33.05. The company's stock had a trading volume of 1,748,093 shares, compared to its average volume of 768,536. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -15.09 and a beta of 1.79. The company has a 50-day moving average of $35.20 and a 200-day moving average of $41.57. Enovis Co. has a 12 month low of $29.32 and a 12 month high of $53.84.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly 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 negative net margin of 5.95% and a positive return on equity of 4.39%. 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 firm earned $0.50 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ENOV shares. Needham & Company LLC lowered their price objective on shares of Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday. JMP Securities lowered their price target on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday.

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.