Primecap Management Co. CA Cuts Stock Holdings in Enovis Co. (NYSE:ENOV)

Primecap Management Co. CA lowered its stake in Enovis Co. (NYSE:ENOV) by 86.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,967 shares of the company’s stock after selling 73,333 shares during the period. Primecap Management Co. CA’s holdings in Enovis were worth $525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Enovis in the 4th quarter worth approximately $16,407,000. Artemis Investment Management LLP grew its holdings in shares of Enovis by 35.4% in the fourth quarter. Artemis Investment Management LLP now owns 665,868 shares of the company’s stock worth $29,218,000 after purchasing an additional 174,116 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Enovis by 6.0% during the 4th quarter. DAVENPORT & Co LLC now owns 2,782,341 shares of the company’s stock valued at $121,181,000 after buying an additional 157,216 shares during the last quarter. Tributary Capital Management LLC boosted its position in Enovis by 33.9% during the 4th quarter. Tributary Capital Management LLC now owns 566,089 shares of the company’s stock valued at $24,840,000 after buying an additional 143,258 shares during the period. Finally, Stephens Inc. AR bought a new stake in Enovis in the 4th quarter worth $3,740,000. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lowered their price objective on shares of Enovis from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 27th.

Enovis Stock Performance

Shares of ENOV stock opened at $39.41 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $42.97 and a 200 day moving average of $43.59. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -17.99 and a beta of 2.05. Enovis Co. has a 52 week low of $35.14 and a 52 week high of $62.79.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, February 26th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $560.98 million during the quarter, compared to analysts’ expectations of $555.14 million. As a group, research analysts expect that Enovis Co. will post 2.79 earnings per share for the current 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.