Raymond James Financial Inc. Purchases New Stake in Enovis Co. (NYSE:ENOV)

Raymond James Financial Inc. acquired a new stake in shares of Enovis Co. (NYSE:ENOV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 373,911 shares of the company’s stock, valued at approximately $16,407,000. Raymond James Financial Inc. owned about 0.66% of Enovis at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ENOV. Aster Capital Management DIFC Ltd bought a new position in shares of Enovis during the fourth quarter worth about $29,000. Quadrant Capital Group LLC lifted its holdings in Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. UMB Bank n.a. lifted its holdings in Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $34,000 after buying an additional 437 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of Enovis by 54.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock valued at $37,000 after acquiring an additional 300 shares during 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. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Enovis in a report on Wednesday, April 9th.

Enovis Stock Up 2.4 %

NYSE:ENOV opened at $31.91 on Monday. The firm has a market capitalization of $1.82 billion, a PE ratio of -14.57 and a beta of 1.86. Enovis Co. has a 52 week low of $29.32 and a 52 week high of $56.89. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $37.53 and a 200-day moving average of $42.19.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. Analysts predict that Enovis Co. will post 2.79 EPS for the current year.

Enovis Company 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.