Wedge Capital Management L L P NC Boosts Stake in Enovis Co. (NYSE:ENOV)

Wedge Capital Management L L P NC increased its stake in Enovis Co. (NYSE:ENOV) by 16.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,962 shares of the company’s stock after acquiring an additional 24,454 shares during the period. Wedge Capital Management L L P NC owned about 0.32% of Enovis worth $7,765,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ENOV. Pinnacle Bancorp Inc. boosted its holdings in shares of Enovis by 54.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares in the last quarter. Aigen Investment Management LP grew its position in Enovis by 5.1% during the third quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock valued at $381,000 after acquiring an additional 430 shares during the last quarter. FMR LLC raised its stake in shares of Enovis by 20.5% during the third quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after acquiring an additional 484 shares in the last quarter. Finally, Heritage Family Offices LLP lifted its holdings in shares of Enovis by 16.6% in the 4th quarter. Heritage Family Offices LLP now owns 5,585 shares of the company’s stock worth $245,000 after acquiring an additional 794 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Stock Up 2.7 %

NYSE ENOV opened at $46.68 on Friday. The business’s 50-day moving average is $45.85 and its 200 day moving average is $44.35. The stock has a market capitalization of $2.61 billion, a PE ratio of -21.32 and a beta of 1.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis Co. has a 1 year low of $38.27 and a 1 year high of $65.03.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. The company had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share. Sell-side analysts forecast that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. JMP Securities assumed coverage on Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. Finally, Evercore ISI lowered their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.