Enovis Co. (NYSE:ENOV) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its holdings in shares of Enovis Co. (NYSE:ENOV) by 17.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,402 shares of the company’s stock after selling 40,711 shares during the period. Lazard Asset Management LLC owned about 0.34% of Enovis worth $11,764,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Enovis by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,193,699 shares of the company’s stock worth $178,912,000 after buying an additional 117,209 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Enovis by 5.5% during the 1st quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock worth $123,804,000 after buying an additional 103,027 shares in the last quarter. Channing Capital Management LLC raised its stake in shares of Enovis by 26.6% during the 4th quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after buying an additional 334,154 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Enovis by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,710 shares of the company’s stock worth $57,796,000 after buying an additional 4,274 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Enovis by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 849,023 shares of the company’s stock worth $53,022,000 after buying an additional 20,720 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Price Performance

NYSE:ENOV traded up $1.19 during trading hours on Friday, reaching $48.10. 931,530 shares of the company traded hands, compared to its average volume of 647,054. The firm’s 50-day moving average is $46.53 and its 200-day moving average is $54.32. The stock has a market cap of $2.64 billion, a P/E ratio of -32.07 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. Enovis Co. has a 1-year low of $43.04 and a 1-year high of $65.53.

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

Analyst Upgrades and Downgrades

ENOV has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Enovis in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. initiated coverage on Enovis in a research note on Thursday, June 13th. They issued a “neutral” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently 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.