Cetera Investment Advisers Reduces Holdings in Enovis Co. (NYSE:ENOV)

Cetera Investment Advisers decreased its stake in shares of Enovis Co. (NYSE:ENOV) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,782 shares of the company’s stock after selling 496 shares during the period. Cetera Investment Advisers’ holdings in Enovis were worth $824,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. raised its holdings in shares of Enovis by 10.3% in the 4th quarter. Benjamin Edwards Inc. now owns 17,205 shares of the company’s stock valued at $755,000 after acquiring an additional 1,610 shares in the last quarter. AXA S.A. raised its holdings in shares of Enovis by 208.4% in the 4th quarter. AXA S.A. now owns 92,909 shares of the company’s stock valued at $4,077,000 after acquiring an additional 62,784 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Enovis in the 4th quarter valued at about $1,388,000. Jane Street Group LLC increased its position in shares of Enovis by 110.2% during the 4th quarter. Jane Street Group LLC now owns 224,224 shares of the company’s stock valued at $9,839,000 after purchasing an additional 117,540 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Enovis by 22.9% during the 4th quarter. Comerica Bank now owns 49,560 shares of the company’s stock valued at $2,175,000 after purchasing an additional 9,224 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

ENOV opened at $31.61 on Friday. The stock’s 50 day simple moving average is $34.73 and its 200 day simple moving average is $41.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis Co. has a 1 year low of $29.32 and a 1 year high of $51.00. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -14.43 and a beta of 1.79.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $558.80 million. During the same quarter last year, the business posted $0.50 EPS. The business’s revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ENOV. JMP Securities reduced their price objective on Enovis from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Friday, May 9th. Needham & Company LLC reduced their price objective on Enovis from $64.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Canaccord Genuity Group reduced their price objective on Enovis from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.