Pitcairn Co. Lowers Position in Enovis Co. (NYSE:ENOV)

Pitcairn Co. trimmed its position in Enovis Co. (NYSE:ENOV) by 20.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,983 shares of the company’s stock after selling 2,041 shares during the period. Pitcairn Co.’s holdings in Enovis were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares during the period. Aigen Investment Management LP grew its holdings in Enovis by 5.1% in the third quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock worth $381,000 after purchasing an additional 430 shares during the period. Ridgewood Investments LLC bought a new position in shares of Enovis during the second quarter valued at approximately $44,000. State of Alaska Department of Revenue lifted its holdings in shares of Enovis by 20.8% during the third quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock valued at $279,000 after purchasing an additional 1,115 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Enovis during the third quarter valued at approximately $55,000. Institutional investors own 98.45% of the company’s stock.

Enovis Stock Down 1.1 %

NYSE ENOV opened at $47.74 on Wednesday. The stock’s 50-day moving average price is $42.81 and its 200-day moving average price is $44.90. The company has a market capitalization of $2.67 billion, a P/E ratio of -22.04 and a beta of 1.91. Enovis Co. has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

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 the consensus estimate of $0.62 by $0.11. The business had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, equities research analysts predict that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.