Scout Investments Inc. Buys Shares of 99,558 Enovis Co. (NYSE:ENOV)

Scout Investments Inc. bought a new position in Enovis Co. (NYSE:ENOV) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 99,558 shares of the company’s stock, valued at approximately $6,116,000. Scout Investments Inc. owned 0.18% of Enovis at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enovis by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,897,449 shares of the company’s stock worth $258,242,000 after acquiring an additional 51,319 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Enovis by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,193,699 shares of the company’s stock valued at $178,912,000 after buying an additional 117,209 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Enovis by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after buying an additional 103,027 shares in the last quarter. Channing Capital Management LLC boosted its holdings in shares of Enovis by 26.6% in the 4th quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock valued at $88,983,000 after buying an additional 334,154 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Enovis by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,710 shares of the company’s stock valued at $57,796,000 after buying an additional 4,274 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

ENOV traded down $0.25 during trading on Friday, reaching $46.67. 459,761 shares of the company’s stock were exchanged, compared to its average volume of 530,886. Enovis Co. has a 1 year low of $43.04 and a 1 year high of $66.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. The stock has a market capitalization of $2.56 billion, a P/E ratio of -31.28 and a beta of 1.92. The company’s fifty day simple moving average is $47.19 and its 200-day simple moving average is $54.74.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company had revenue of $516.00 million during the quarter, compared to analyst estimates of $505.62 million. During the same period last year, the firm posted $0.44 EPS. Enovis’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, research analysts predict that Enovis Co. will post 2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENOV. Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Enovis in a report on Friday, May 3rd. Evercore ISI lowered their price target on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Enovis in a research report on Thursday, June 13th. They issued a “neutral” rating and a $53.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.44.

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.