AlphaCentric Advisors LLC Increases Holdings in Enovis Co. (NYSE:ENOV)

AlphaCentric Advisors LLC boosted its stake in shares of Enovis Co. (NYSE:ENOV) by 37.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,500 shares of the company’s stock after buying an additional 7,500 shares during the period. AlphaCentric Advisors LLC’s holdings in Enovis were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Scout Investments Inc. purchased a new stake in Enovis in the first quarter valued at $6,116,000. Price T Rowe Associates Inc. MD raised its holdings in Enovis by 88.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock valued at $23,802,000 after acquiring an additional 179,276 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Enovis by 100.6% in the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock valued at $23,606,000 after acquiring an additional 189,584 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Enovis by 13.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 284,596 shares of the company’s stock valued at $12,864,000 after acquiring an additional 33,300 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Enovis by 50.9% in the 2nd quarter. Sei Investments Co. now owns 223,358 shares of the company’s stock valued at $10,096,000 after acquiring an additional 75,317 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Evercore ISI cut their price target on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Needham & Company LLC dropped their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, JMP Securities initiated coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Enovis currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enovis Trading Up 1.4 %

Shares of NYSE ENOV opened at $43.03 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $42.21 and its two-hundred day moving average is $45.71. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $525.20 million for the quarter, compared to the consensus estimate of $525.99 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Research analysts anticipate that Enovis Co. will post 2.7 EPS 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.