Royce & Associates LP Boosts Position in Enovis Co. (NYSE:ENOV)

Royce & Associates LP increased its position in shares of Enovis Co. (NYSE:ENOV) by 16.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,403,685 shares of the company’s stock after purchasing an additional 346,317 shares during the period. Enovis comprises about 0.9% of Royce & Associates LP’s portfolio, making the stock its 3rd largest holding. Royce & Associates LP’s holdings in Enovis were worth $103,479,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in shares of Enovis in the second quarter valued at about $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Enovis in the third quarter worth $55,000. Innealta Capital LLC bought a new stake in Enovis in the 2nd quarter valued at about $65,000. Benjamin F. Edwards & Company Inc. raised its position 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 valued at $76,000 after purchasing an additional 371 shares during the period. Finally, Heritage Family Offices LLP purchased a new position in shares of Enovis in the third quarter valued at $206,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ENOV shares. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JMP Securities initiated coverage on Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enovis Price Performance

Shares of Enovis stock opened at $45.59 on Friday. The firm’s 50-day moving average is $42.33 and its two-hundred day moving average is $45.33. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis Co. has a 1 year low of $38.27 and a 1 year high of $65.03.

Enovis (NYSE:ENOV) last released its earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. The business had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Enovis Co. 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.