Retirement Systems of Alabama Raises Holdings in Enovis Co. (NYSE:ENOV)

Retirement Systems of Alabama grew its stake in shares of Enovis Co. (NYSE:ENOV) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,846 shares of the company’s stock after acquiring an additional 6,239 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Enovis worth $2,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Diamond Hill Capital Management Inc. lifted its position in Enovis by 7.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock worth $129,352,000 after acquiring an additional 218,660 shares during the period. Royce & Associates LP raised its stake in shares of Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after purchasing an additional 346,317 shares during the last quarter. State Street Corp lifted its holdings in shares of Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after purchasing an additional 68,190 shares during the period. American Century Companies Inc. lifted its holdings in shares of Enovis by 78.6% during the second 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. Finally, River Road Asset Management LLC purchased a new stake in Enovis in the third quarter valued at approximately $51,341,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ENOV. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price for the company. Finally, Evercore ISI lowered their price target 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enovis Stock Performance

ENOV opened at $43.12 on Friday. The firm has a fifty day moving average price of $44.74 and a 200 day moving average price of $44.46. Enovis Co. has a 1 year low of $38.27 and a 1 year high of $65.03. The stock has a market cap of $2.41 billion, a P/E ratio of -19.69 and a beta of 1.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate 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.