Principal Financial Group Inc. Purchases 153,232 Shares of Enovis Corporation (NYSE:ENOV)

Principal Financial Group Inc. grew its stake in Enovis Corporation (NYSE:ENOV) by 118.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,406 shares of the company’s stock after purchasing an additional 153,232 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Enovis worth $10,791,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Enovis in the fourth quarter valued at about $29,000. Quadrant Capital Group LLC increased its position in Enovis by 53.0% during the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the period. Farther Finance Advisors LLC increased its position in Enovis by 266.7% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 536 shares during the period. Quarry LP raised its stake in Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $45,000 after purchasing an additional 692 shares during the period. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JMP Securities lowered their target price on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Evercore ISI lowered their target price on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. Canaccord Genuity Group lowered their target price on shares of Enovis from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Needham & Company LLC lowered their target price on shares of Enovis from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Enovis has an average rating of “Moderate Buy” and an average target price of $55.60.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $34.03 on Monday. The company’s 50 day simple moving average is $32.98 and its 200 day simple moving average is $37.59. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -2.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. Enovis Corporation has a 1 year low of $28.83 and a 1 year high of $49.83.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $558.83 million for the quarter, compared to analysts’ expectations of $558.80 million. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. As a group, research analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

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.