Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 3,780,000 shares, a drop of 13.9% from the July 15th total of 4,390,000 shares. Based on an average daily trading volume, of 664,200 shares, the short-interest ratio is presently 5.7 days. Currently, 6.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Enovis

Several institutional investors have recently bought and sold shares of the company. Ironwood Investment Management LLC raised its holdings in shares of Enovis by 100.0% in the second quarter. Ironwood Investment Management LLC now owns 13,557 shares of the company’s stock valued at $613,000 after purchasing an additional 6,779 shares during the last quarter. Algert Global LLC acquired a new stake in Enovis in the 2nd quarter valued at $250,000. The Manufacturers Life Insurance Company increased its stake in Enovis by 12.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,545 shares of the company’s stock valued at $2,917,000 after buying an additional 7,066 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Enovis during the 2nd quarter worth about $1,567,000. Finally, AXA S.A. boosted its stake in shares of Enovis by 26.3% during the 2nd quarter. AXA S.A. now owns 20,798 shares of the company’s stock worth $940,000 after buying an additional 4,326 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Stock Up 1.4 %

Shares of Enovis stock traded up $0.60 on Monday, hitting $44.75. The company had a trading volume of 309,365 shares, compared to its average volume of 559,803. Enovis has a twelve month low of $39.98 and a twelve month high of $65.03. 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 50-day moving average of $44.97 and a 200-day moving average of $52.62. The firm has a market capitalization of $2.45 billion, a P/E ratio of -29.83 and a beta of 1.92.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $525.99 million. During the same period in the prior year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts predict that Enovis will post 2.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ENOV. Needham & Company LLC reduced their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI reduced their price target on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Enovis currently has a consensus rating of “Moderate Buy” and an average price target of $69.13.

About Enovis

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.