Holocene Advisors LP Raises Holdings in Enovis Co. (NYSE:ENOV)

Holocene Advisors LP increased its position in shares of Enovis Co. (NYSE:ENOV) by 120.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,112 shares of the company’s stock after buying an additional 38,880 shares during the period. Holocene Advisors LP’s holdings in Enovis were worth $3,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in Enovis during the 2nd quarter valued at about $44,000. DekaBank Deutsche Girozentrale purchased a new position in Enovis in the third quarter valued at about $55,000. Innealta Capital LLC purchased a new stake in Enovis during the second quarter valued at approximately $65,000. Benjamin F. Edwards & Company Inc. boosted its stake in 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 acquiring an additional 371 shares in the last quarter. Finally, FMR LLC grew its holdings in Enovis by 20.5% in the third quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after purchasing an additional 484 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. 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. JMP Securities began coverage on Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target for the company. Evercore ISI cut their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enovis Stock Performance

Shares of NYSE ENOV opened at $47.88 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $43.62 and a two-hundred day simple moving average of $44.81. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -21.86 and a beta of 1.94.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share 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%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. As a group, analysts predict that Enovis Co. will post 2.79 earnings per share for the current year.

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.