Janus Henderson Group PLC Cuts Holdings in Enovis Corporation $ENOV

Janus Henderson Group PLC decreased its holdings in Enovis Corporation (NYSE:ENOV) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,720 shares of the company’s stock after selling 62,806 shares during the period. Janus Henderson Group PLC’s holdings in Enovis were worth $8,525,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ENOV. AQR Capital Management LLC lifted its holdings in shares of Enovis by 12.5% during the first quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock valued at $2,363,000 after purchasing an additional 7,072 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Enovis by 37.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock worth $10,226,000 after buying an additional 73,116 shares during the last quarter. Empowered Funds LLC lifted its stake in Enovis by 13.0% during the 1st quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after acquiring an additional 749 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Enovis by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after acquiring an additional 707 shares during the period. Finally, Amundi boosted its holdings in shares of Enovis by 24,405.0% during the 2nd quarter. Amundi now owns 9,802 shares of the company’s stock valued at $328,000 after acquiring an additional 9,762 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

NYSE:ENOV opened at $30.07 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 2.04. The stock has a 50-day simple moving average of $24.47 and a two-hundred day simple moving average of $23.93. The firm has a market capitalization of $1.73 billion, a PE ratio of -1.51 and a beta of 1.34. Enovis Corporation has a 52-week low of $19.14 and a 52-week high of $34.28.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. The firm had revenue of $589.15 million for the quarter, compared to the consensus estimate of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. Analysts forecast that Enovis Corporation will post 3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENOV. BMO Capital Markets started coverage on shares of Enovis in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $29.00 price target for the company. Wall Street Zen upgraded shares of Enovis from a “hold” rating to a “buy” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company decreased their target price on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, William Blair began coverage on Enovis in a report on Friday, April 17th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.86.

Insider Transactions at Enovis

In other news, insider Oliver Engert bought 1,200 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the purchase, the insider owned 51,840 shares in the company, valued at approximately $1,120,780.80. The trade was a 2.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 4,200 shares of company stock valued at $92,084. Corporate insiders own 2.90% of the company’s stock.

Enovis Profile

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.