Enovis Co. (NYSE:ENOV) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. trimmed its holdings in shares of Enovis Co. (NYSE:ENOV) by 72.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 556,638 shares of the company’s stock after selling 1,491,749 shares during the period. Select Equity Group L.P. owned approximately 1.01% of Enovis worth $25,160,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Enovis by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,545 shares of the company’s stock valued at $2,917,000 after buying an additional 7,066 shares during the period. Dark Forest Capital Management LP acquired a new position in Enovis in the 2nd quarter valued at $1,567,000. AXA S.A. lifted its position in shares of Enovis by 26.3% during the 2nd quarter. AXA S.A. now owns 20,798 shares of the company’s stock worth $940,000 after purchasing an additional 4,326 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Enovis in the second quarter valued at approximately $237,000. Finally, Front Street Capital Management Inc. boosted its holdings in Enovis by 1.6% in the 2nd quarter. Front Street Capital Management Inc. now owns 210,545 shares of the company’s stock valued at $9,517,000 after purchasing an additional 3,293 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

ENOV has been the topic of a number of research reports. Evercore ISI lowered their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their price target on shares of 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 dropped their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.13.

Enovis Price Performance

ENOV stock opened at $43.39 on Friday. The stock has a market cap of $2.42 billion, a PE ratio of -28.93 and a beta of 1.92. The stock has a 50-day moving average price of $44.48 and a two-hundred day moving average price of $49.52. Enovis Co. has a 1 year low of $39.98 and a 1 year high of $65.03. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $525.99 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. Enovis’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. Equities analysts forecast that Enovis Co. will post 2.7 EPS for the current fiscal year.

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.