Advantage Alpha Capital Partners LP Grows Position in Enovis Co. (NYSE:ENOV)

Advantage Alpha Capital Partners LP boosted its stake in shares of Enovis Co. (NYSE:ENOV) by 49.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,955 shares of the company’s stock after purchasing an additional 29,139 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Enovis were worth $3,786,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ENOV. River Road Asset Management LLC purchased a new position in shares of Enovis in the 3rd quarter worth $51,341,000. American Century Companies Inc. raised its holdings in shares of Enovis by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after purchasing an additional 665,208 shares during the period. Magnetar Financial LLC grew its holdings in shares of Enovis by 66.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after purchasing an additional 442,051 shares during the period. Diamond Hill Capital Management Inc. increased its position in Enovis by 14.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after purchasing an additional 352,116 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock valued at $103,479,000 after buying an additional 346,317 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

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

Enovis Stock Up 3.4 %

Shares of NYSE ENOV opened at $48.27 on Tuesday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -22.04 and a beta of 1.91. Enovis Co. has a 1 year low of $38.27 and a 1 year high of $65.03. 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 stock’s 50-day simple moving average is $42.81 and its 200-day simple moving average is $44.90.

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