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

Retirement Systems of Alabama increased its position in Enovis Co. (NYSE:ENOV) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,222 shares of the company’s stock after buying an additional 251 shares during the period. Retirement Systems of Alabama’s holdings in Enovis were worth $3,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in shares of Enovis by 83.8% during the 4th quarter. Truist Financial Corp now owns 7,152 shares of the company’s stock valued at $401,000 after buying an additional 3,261 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in Enovis by 10.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 50,281 shares of the company’s stock valued at $2,817,000 after purchasing an additional 4,845 shares during the period. Cross Staff Investments Inc bought a new stake in shares of Enovis in the 4th quarter valued at approximately $205,000. GAMMA Investing LLC purchased a new position in shares of Enovis in the 4th quarter worth approximately $53,000. Finally, New York State Common Retirement Fund increased its position in shares of Enovis by 22.5% during the 4th quarter. New York State Common Retirement Fund now owns 356,417 shares of the company’s stock valued at $19,966,000 after purchasing an additional 65,577 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Enovis Price Performance

NYSE ENOV opened at $52.24 on Wednesday. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -34.83 and a beta of 1.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. The stock’s fifty day moving average price is $58.76 and its 200 day moving average price is $55.89. Enovis Co. has a 1 year low of $43.04 and a 1 year high of $66.14.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The firm had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue was up 27.0% compared to the same quarter last year. As a group, equities research analysts forecast that Enovis Co. will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ENOV. Stephens started coverage on shares of Enovis in a research note on Tuesday, February 13th. They set an “overweight” rating and a $72.00 price objective for the company. UBS Group assumed coverage on shares of Enovis in a report on Monday, January 22nd. They set a “buy” rating and a $75.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Enovis in a report on Friday, May 3rd. Finally, Wells Fargo & Company raised their price target on Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average 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.