Wedge Capital Management L L P NC Boosts Position in Enovis Co. (NYSE:ENOV)

Wedge Capital Management L L P NC boosted its position in shares of Enovis Co. (NYSE:ENOV) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,212 shares of the company’s stock after acquiring an additional 21,334 shares during the quarter. Wedge Capital Management L L P NC owned 0.31% of Enovis worth $9,535,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Enovis by 144.6% during the third quarter. Fifth Third Bancorp now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 347 shares during the period. UMB Bank n.a. bought a new stake in Enovis during the third quarter valued at about $31,000. First Horizon Advisors Inc. grew its holdings in Enovis by 902.7% during the third quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock valued at $39,000 after purchasing an additional 659 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Enovis during the third quarter valued at about $82,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Enovis during the third quarter valued at about $101,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

Shares of Enovis stock opened at $55.47 on Wednesday. The stock has a 50 day moving average of $60.10 and a 200 day moving average of $55.47. Enovis Co. has a 12 month low of $43.04 and a 12 month high of $66.14. The firm has a market cap of $3.04 billion, a PE ratio of -90.93 and a beta of 1.97. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Enovis had a positive return on equity of 3.84% and a negative net margin of 1.95%. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $444.34 million. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, research analysts expect that Enovis Co. will post 2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

ENOV has been the subject of several recent research reports. Stephens initiated coverage on Enovis in a report on Tuesday, February 13th. They set an “overweight” rating and a $72.00 price target for the company. Wells Fargo & Company upped their price objective on Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Canaccord Genuity Group upped their price objective on Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. UBS Group assumed coverage on Enovis in a research note on Monday, January 22nd. They issued a “buy” rating and a $75.00 price objective for the company. Finally, William Blair assumed coverage on Enovis in a research note on Wednesday, January 3rd. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $75.43.

Enovis 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.