Impax Asset Management Group plc boosted its position in Enovis Co. (NYSE:ENOV – Get Rating) by 59.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,630 shares of the company's stock after acquiring an additional 60,000 shares during the period. Impax Asset Management Group plc's holdings in Enovis were worth $7,400,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in ENOV. Cove Street Capital LLC lifted its position in shares of Enovis by 10.9% in the 3rd quarter. Cove Street Capital LLC now owns 208,387 shares of the company's stock worth $9,600,000 after purchasing an additional 20,481 shares during the period. Broadcrest Asset Management LLC grew its stake in shares of Enovis by 25.0% in the third quarter. Broadcrest Asset Management LLC now owns 250,000 shares of the company's stock worth $11,518,000 after acquiring an additional 50,000 shares during the period. Homestead Advisers Corp grew its position in Enovis by 7.7% during the third quarter. Homestead Advisers Corp now owns 61,576 shares of the company's stock valued at $2,837,000 after buying an additional 4,400 shares during the period. Retirement Systems of Alabama grew its position in Enovis by 0.7% during the third quarter. Retirement Systems of Alabama now owns 62,361 shares of the company's stock valued at $2,873,000 after buying an additional 436 shares during the period. Finally, Prudential Financial Inc. grew its position in Enovis by 384.7% during the third quarter. Prudential Financial Inc. now owns 143,389 shares of the company's stock valued at $6,607,000 after buying an additional 113,806 shares during the period. Institutional investors own 96.73% of the company's stock.
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Analyst Ratings Changes
A number of equities research analysts recently issued reports on ENOV shares. TheStreet downgraded shares of Enovis from a "c" rating to a "d" rating in a research note on Wednesday, November 2nd. Jefferies Financial Group began coverage on shares of Enovis in a report on Wednesday, October 12th. They set a "buy" rating and a $60.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Enovis in a research report on Tuesday, October 11th. They set a "buy" rating and a $57.00 price target for the company. Robert W. Baird decreased their price target on shares of Enovis from $73.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, November 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Enovis from $60.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Enovis presently has an average rating of "Moderate Buy" and a consensus target price of $63.50.
Enovis Stock Performance
Enovis stock opened at $62.95 on Wednesday. The company's fifty day moving average price is $56.25 and its 200 day moving average price is $53.72. Enovis Co. has a 1 year low of $43.88 and a 1 year high of $129.21. The stock has a market capitalization of $3.41 billion, a P/E ratio of 131.15 and a beta of 2.00.
Enovis (NYSE:ENOV – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. Enovis had a net margin of 0.94% and a return on equity of 4.46%. The firm had revenue of $383.81 million for the quarter, compared to analysts' expectations of $379.75 million. Sell-side analysts predict that Enovis Co. will post 2.24 EPS for the current year.
Insider Activity at Enovis
In related news, EVP Daniel A. Pryor sold 67,421 shares of Enovis stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $54.58, for a total value of $3,679,838.18. Following the sale, the executive vice president now owns 75,731 shares of the company's stock, valued at approximately $4,133,397.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Enovis news, EVP Daniel A. Pryor sold 67,421 shares of the firm's stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $54.58, for a total value of $3,679,838.18. Following the transaction, the executive vice president now owns 75,731 shares in the company, valued at approximately $4,133,397.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher M. Hix sold 1,367 shares of the firm's stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $55.28, for a total value of $75,567.76. Following the completion of the transaction, the chief financial officer now owns 44,605 shares in the company, valued at approximately $2,465,764.40. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.
Enovis Profile
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Enovis Corporation operates as a medical technology company worldwide. It develops, manufactures, and distributes medical device products used by orthopedic specialists, surgeons, primary care physicians, pain management specialists, physical therapists, podiatrists, chiropractors, athletic trainers, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports related injuries.
Further Reading
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