Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 4,450,000 shares, an increase of 6.7% from the December 15th total of 4,170,000 shares. Based on an average daily volume of 669,300 shares, the days-to-cover ratio is presently 6.6 days. Approximately 8.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

ENOV has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. JMP Securities began coverage on Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock. Finally, Evercore ISI decreased their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in Enovis by 38.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,876 shares of the company’s stock valued at $446,000 after acquiring an additional 2,731 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Enovis by 43.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 268,353 shares of the company’s stock valued at $12,130,000 after purchasing an additional 81,294 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Enovis during the 2nd quarter valued at $588,000. MQS Management LLC acquired a new stake in shares of Enovis in the 2nd quarter worth $255,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Stock Up 2.7 %

Shares of NYSE ENOV opened at $46.68 on Tuesday. The stock has a market capitalization of $2.61 billion, a PE ratio of -21.32 and a beta of 1.94. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis has a 12-month low of $38.27 and a 12-month high of $65.03. The stock’s fifty day simple moving average is $45.83 and its two-hundred day simple moving average is $44.37.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. The company had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. As a group, analysts expect that Enovis will post 2.79 EPS for the current fiscal year.

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.