Enovis Co. (NYSE:ENOV) Short Interest Down 7.1% in November

Enovis Co. (NYSE:ENOV) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 4,420,000 shares, a decrease of 7.1% from the October 31st total of 4,760,000 shares. Approximately 8.0% of the company’s shares are short sold. Based on an average trading volume of 655,100 shares, the short-interest ratio is presently 6.7 days.

Enovis Stock Down 0.6 %

NYSE:ENOV traded down $0.29 during trading hours on Tuesday, reaching $49.04. 725,149 shares of the company were exchanged, compared to its average volume of 632,457. The stock’s 50-day moving average is $43.29 and its 200-day moving average is $44.78. Enovis has a twelve month low of $38.27 and a twelve month 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.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. The firm had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. Enovis’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. Research analysts expect that Enovis will post 2.79 EPS for the current fiscal year.

Institutional Trading of Enovis

Hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 purchasing an additional 371 shares during the period. Aigen Investment Management LP increased its holdings in shares of Enovis by 5.1% during the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock worth $381,000 after buying an additional 430 shares during the last quarter. FMR LLC raised its position in shares of Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after buying an additional 484 shares during the period. Ridgewood Investments LLC acquired a new position in Enovis in the second quarter valued at approximately $44,000. Finally, State of Alaska Department of Revenue grew its position in Enovis by 20.8% in the third quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock worth $279,000 after acquiring an additional 1,115 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Enovis presently has an average rating of “Moderate Buy” and an average price target of $67.00.

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.