Retirement Systems of Alabama lifted its position in shares of Enovis Co. (NYSE:ENOV – Get Rating) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,361 shares of the company's stock after acquiring an additional 436 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Enovis worth $2,873,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Wipfli Financial Advisors LLC acquired a new stake in shares of Enovis during the 3rd quarter valued at $36,000. M&T Bank Corp acquired a new position in Enovis during the 2nd quarter worth about $137,000. Paloma Partners Management Co acquired a new position in Enovis during the 2nd quarter worth about $209,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enovis during the 2nd quarter worth about $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Enovis during the 2nd quarter worth about $285,000. Institutional investors and hedge funds own 96.73% of the company's stock.
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Analysts Set New Price Targets
Several brokerages have commented on ENOV. Evercore ISI lifted their target price on Enovis to $68.00 in a report on Tuesday, January 3rd. Robert W. Baird cut their target price on Enovis from $73.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, November 3rd. Wells Fargo & Company lowered their price objective on Enovis from $60.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 26th. Jefferies Financial Group started coverage on Enovis in a research report on Wednesday, October 12th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, TheStreet lowered Enovis from a "c" rating to a "d" rating in a research report on Wednesday, November 2nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Enovis currently has an average rating of "Moderate Buy" and a consensus price target of $63.50.
Enovis Price Performance
Shares of Enovis stock opened at $65.92 on Friday. Enovis Co. has a one year low of $43.88 and a one year high of $129.21. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 137.34 and a beta of 2.04. The business has a 50-day simple moving average of $56.66 and a 200 day simple moving average of $53.88.
Enovis (NYSE:ENOV – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. Enovis had a return on equity of 4.46% and a net margin of 0.94%. The business had revenue of $383.81 million during the quarter, compared to analyst estimates of $379.75 million. On average, sell-side analysts expect 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 the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 75,731 shares of the company's stock, valued at approximately $4,133,397.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Enovis news, CFO Christopher M. Hix sold 1,367 shares of Enovis stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $55.28, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Pryor sold 67,421 shares of Enovis stock in a transaction dated 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 transaction, the executive vice president now owns 75,731 shares of the company's stock, valued at approximately $4,133,397.98. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by corporate insiders.
Enovis Company 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.
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