Wedge Capital Management L L P NC Raises Stock Holdings in Enovis Co. (NYSE:ENOV)

Wedge Capital Management L L P NC raised its position in shares of Enovis Co. (NYSE:ENOV) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 176,962 shares of the company’s stock after purchasing an additional 24,454 shares during the period. Wedge Capital Management L L P NC’s holdings in Enovis were worth $7,765,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Pinnacle Bancorp Inc. grew its stake in shares of Enovis by 54.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after buying an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Enovis in the third quarter worth $55,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after acquiring an additional 371 shares during the last quarter. FMR LLC increased its holdings in shares of Enovis by 20.5% during the third quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after acquiring an additional 484 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new position in shares of Enovis in the 3rd quarter worth about $206,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENOV. Evercore ISI cut their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Enovis in a report on Thursday, November 7th. Finally, JMP Securities assumed coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

Enovis Stock Up 2.7 %

ENOV opened at $46.68 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.32 and a beta of 1.94. The firm has a 50 day moving average price of $45.85 and a 200-day moving average price of $44.35. Enovis Co. has a twelve month low of $38.27 and a twelve month high of $65.03. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last announced its earnings results 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 business had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. Equities research analysts forecast that Enovis Co. will post 2.79 earnings per share 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.