Enovis Corporation $ENOV Shares Bought by Private Management Group Inc.

Private Management Group Inc. grew its holdings in shares of Enovis Corporation (NYSE:ENOV) by 38.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,365,082 shares of the company’s stock after purchasing an additional 381,705 shares during the quarter. Private Management Group Inc.’s holdings in Enovis were worth $28,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arax Advisory Partners bought a new position in Enovis in the 4th quarter worth approximately $29,000. Allworth Financial LP bought a new stake in Enovis during the 2nd quarter valued at $36,000. EverSource Wealth Advisors LLC boosted its position in Enovis by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after acquiring an additional 707 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Enovis in the second quarter worth $48,000. Finally, Danske Bank A S bought a new position in shares of Enovis in the third quarter worth $64,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ENOV. Wall Street Zen lowered shares of Enovis from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company decreased their price target on Enovis from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $30.00 price target on shares of Enovis in a research report on Friday, August 7th. Canaccord Genuity Group dropped their price objective on Enovis from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Finally, Evercore set a $32.00 price objective on Enovis in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Enovis has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Enovis Stock Performance

Shares of ENOV opened at $24.91 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.00. The firm’s 50 day moving average is $25.60 and its 200-day moving average is $24.25. Enovis Corporation has a 12-month low of $19.14 and a 12-month high of $34.28. The stock has a market capitalization of $1.44 billion, a P/E ratio of -1.29 and a beta of 1.34.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The business had revenue of $582.78 million during the quarter, compared to analyst estimates of $581.84 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Equities research analysts anticipate that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Insider Activity

In related news, insider Oliver Engert purchased 1,200 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $21.62 per share, with a total value of $25,944.00. Following the completion of the acquisition, the insider owned 51,840 shares of the company’s stock, valued at approximately $1,120,780.80. This represents a 2.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 4,200 shares of company stock valued at $92,084 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.