Enovis Co. (NYSE:ENOV) Shares Bought by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of Enovis Co. (NYSE:ENOV) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,036 shares of the company’s stock after acquiring an additional 386 shares during the period. Pitcairn Co.’s holdings in Enovis were worth $377,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. HBK Sorce Advisory LLC purchased a new position in shares of Enovis during the 1st quarter worth about $226,000. Scout Investments Inc. purchased a new position in shares of Enovis during the 1st quarter worth about $6,116,000. First Eagle Investment Management LLC lifted its holdings in shares of Enovis by 1.7% during the 1st quarter. First Eagle Investment Management LLC now owns 251,296 shares of the company’s stock worth $15,693,000 after acquiring an additional 4,200 shares during the period. US Bancorp DE raised its holdings in Enovis by 3.5% in the first quarter. US Bancorp DE now owns 13,043 shares of the company’s stock valued at $815,000 after buying an additional 447 shares during the period. Finally, Swiss National Bank raised its holdings in Enovis by 0.3% in the first quarter. Swiss National Bank now owns 97,000 shares of the company’s stock valued at $6,058,000 after buying an additional 300 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Enovis Stock Up 2.2 %

Shares of ENOV traded up $1.00 during mid-day trading on Thursday, reaching $46.91. 845,962 shares of the stock traded hands, compared to its average volume of 536,674. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -31.37 and a beta of 1.92. The stock has a fifty day simple moving average of $46.72 and a 200 day simple moving average of $54.46. Enovis Co. has a 12-month low of $43.04 and a 12-month high of $65.53. The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The business had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same quarter last year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. Sell-side analysts expect that Enovis Co. will post 2.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENOV. Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Enovis in a report on Friday, May 3rd. Evercore ISI cut their price target on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Enovis in a report on Thursday, June 13th. They issued a “neutral” rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.44.

Enovis Company Profile

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.