Enovis Co. (NYSE:ENOV) Short Interest Up 6.7% in January

Enovis Co. (NYSE:ENOV) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 4,450,000 shares, an increase of 6.7% from the December 31st total of 4,170,000 shares. Based on an average trading volume of 669,300 shares, the days-to-cover ratio is presently 6.6 days. Approximately 8.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Enovis

A number of institutional investors have recently modified their holdings of ENOV. Pinnacle Bancorp Inc. grew its stake in Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Aigen Investment Management LP grew its position in shares of Enovis by 5.1% in the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock worth $381,000 after acquiring an additional 430 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Enovis by 128.2% in the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Enovis by 3.5% during the 4th quarter. New York State Teachers Retirement System now owns 13,538 shares of the company’s stock valued at $594,000 after acquiring an additional 457 shares in the last quarter. Finally, 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 acquiring an additional 484 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Up 1.4 %

NYSE ENOV traded up $0.62 during mid-day trading on Tuesday, reaching $45.89. 100,591 shares of the company’s stock traded hands, compared to its average volume of 1,162,249. The company has a fifty day simple moving average of $46.04 and a 200-day simple moving average of $44.50. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -20.99 and a beta of 1.94. The company has a current ratio of 2.27, a quick ratio of 1.12 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 (EPS) 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 analyst estimates of $504.44 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts expect that Enovis will post 2.79 EPS for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.86.

About Enovis

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.