Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,450,000 shares, an increase of 6.7% from the December 15th total of 4,170,000 shares. Based on an average daily trading volume, of 669,300 shares, the short-interest ratio is currently 6.6 days. Currently, 8.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Enovis

Large investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in Enovis by 38.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,876 shares of the company’s stock valued at $446,000 after acquiring an additional 2,731 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Enovis by 43.5% during the second quarter. Envestnet Asset Management Inc. now owns 268,353 shares of the company’s stock worth $12,130,000 after purchasing an additional 81,294 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Enovis during the second quarter valued at $588,000. MQS Management LLC purchased a new stake in shares of Enovis during the second quarter valued at $255,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 purchasing an additional 371 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENOV has been the topic of several research reports. Evercore ISI dropped their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Enovis in a report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enovis Price Performance

ENOV stock opened at $46.68 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The company has a market capitalization of $2.61 billion, a PE ratio of -21.32 and a beta of 1.94. The company’s fifty day moving average price is $45.83 and its 200-day moving average price is $44.37. Enovis has a one year low of $38.27 and a one year high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts anticipate that Enovis will post 2.79 EPS for the current fiscal year.

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.