King Luther Capital Management Corp Cuts Stake in Enovis Corporation $ENOV

King Luther Capital Management Corp decreased its position in Enovis Corporation (NYSE:ENOV) by 78.6% during the 3rd quarter, Holdings Channel reports. The fund owned 30,070 shares of the company’s stock after selling 110,769 shares during the quarter. King Luther Capital Management Corp’s holdings in Enovis were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First National Bank of Omaha purchased a new position in shares of Enovis during the 3rd quarter worth approximately $2,222,000. GSA Capital Partners LLP purchased a new stake in shares of Enovis during the 3rd quarter worth $554,000. Vanguard Group Inc. increased its holdings in shares of Enovis by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock valued at $197,945,000 after purchasing an additional 125,460 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Enovis by 23.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 72,104 shares of the company’s stock worth $2,188,000 after buying an additional 13,919 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Enovis by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 222,939 shares of the company’s stock valued at $6,764,000 after buying an additional 28,236 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

In other Enovis news, insider John Kleckner bought 2,468 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price of $30.32 per share, with a total value of $74,829.76. Following the transaction, the insider owned 12,302 shares in the company, valued at $372,996.64. This trade represents a 25.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total transaction of $27,172.80. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company boosted their target price on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. BTIG Research initiated coverage on Enovis in a research report on Tuesday, January 6th. They set a “buy” rating and a $41.00 price target for the company. UBS Group reissued a “buy” rating and issued a $50.00 target price on shares of Enovis in a research note on Monday, January 5th. Canaccord Genuity Group decreased their target price on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Finally, Evercore reiterated an “outperform” rating on shares of Enovis in a research note on Monday, January 12th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Enovis Stock Up 1.9%

Shares of ENOV opened at $22.72 on Friday. The firm has a market cap of $1.30 billion, a PE ratio of -0.96 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 2.22 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $24.58 and its two-hundred day moving average is $28.33. Enovis Corporation has a fifty-two week low of $21.00 and a fifty-two week high of $44.03.

Enovis Company 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.