Southeastern Asset Management Inc. TN Grows Holdings in Enovis Co. (NYSE:ENOV)

Southeastern Asset Management Inc. TN grew its stake in Enovis Co. (NYSE:ENOV) by 60.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,583 shares of the company’s stock after acquiring an additional 13,797 shares during the period. Southeastern Asset Management Inc. TN’s holdings in Enovis were worth $1,605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ENOV. Hood River Capital Management LLC purchased a new stake in shares of Enovis in the 4th quarter valued at approximately $29,024,000. Raymond James Financial Inc. acquired a new position in shares of Enovis in the fourth quarter valued at approximately $16,407,000. ExodusPoint Capital Management LP grew its holdings in shares of Enovis by 919.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company’s stock valued at $14,625,000 after purchasing an additional 300,605 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Enovis in the fourth quarter valued at approximately $10,970,000. Finally, Boston Partners grew its holdings in shares of Enovis by 27.1% in the fourth quarter. Boston Partners now owns 1,048,532 shares of the company’s stock valued at $46,034,000 after purchasing an additional 223,816 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Trading Down 1.0%

NYSE ENOV opened at $35.86 on Friday. 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 Co. has a 52 week low of $29.32 and a 52 week high of $53.31. The stock has a market capitalization of $2.05 billion, a PE ratio of -16.37 and a beta of 1.79. The firm has a 50 day moving average of $35.16 and a two-hundred day moving average of $41.45.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.81 EPS 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 company had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $558.80 million. During the same quarter in the previous year, the business posted $0.50 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts expect that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Enovis from $75.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday. JMP Securities dropped their price objective on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC dropped their price objective on shares of Enovis from $64.00 to $57.00 and set a “buy” rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.