Illinois Municipal Retirement Fund Acquires New Position in Enovis Corporation $ENOV

Illinois Municipal Retirement Fund bought a new position in shares of Enovis Corporation (NYSE:ENOV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 30,343 shares of the company’s stock, valued at approximately $921,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Enovis as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ENOV. Tributary Capital Management LLC boosted its holdings in Enovis by 91.5% in the third quarter. Tributary Capital Management LLC now owns 1,154,482 shares of the company’s stock valued at $35,027,000 after purchasing an additional 551,613 shares during the period. AQR Capital Management LLC grew its position in shares of Enovis by 682.6% during the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after buying an additional 434,646 shares in the last quarter. Boston Partners increased its stake in shares of Enovis by 42.4% during the second quarter. Boston Partners now owns 1,382,724 shares of the company’s stock worth $43,352,000 after buying an additional 411,744 shares during the period. Geode Capital Management LLC increased its stake in shares of Enovis by 43.8% during the second quarter. Geode Capital Management LLC now owns 1,342,481 shares of the company’s stock worth $42,105,000 after buying an additional 408,608 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its stake in Enovis by 41.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,113,300 shares of the company’s stock worth $34,913,000 after acquiring an additional 326,900 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling at Enovis

In other Enovis news, EVP Daniel A. Pryor sold 999 shares of Enovis stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total value of $27,172.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kleckner bought 2,468 shares of Enovis stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average cost of $30.32 per share, with a total value of $74,829.76. Following the completion of the acquisition, the insider directly owned 12,302 shares of the company’s stock, valued at approximately $372,996.64. The trade was a 25.10% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore reissued an “outperform” rating on shares of Enovis in a research report on Monday, January 12th. Canaccord Genuity Group dropped their target price on Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Wells Fargo & Company lifted their price target on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. UBS Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday, January 5th. Finally, BTIG Research initiated coverage on Enovis in a report on Tuesday, January 6th. They issued a “buy” rating and a $41.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Enovis Price Performance

Shares of NYSE ENOV opened at $22.08 on Thursday. The stock has a market cap of $1.26 billion, a P/E ratio of -0.93 and a beta of 1.52. Enovis Corporation has a twelve month low of $21.00 and a twelve month high of $44.76. The stock has a 50 day moving average of $24.77 and a two-hundred day moving average of $28.39. The company has a current ratio of 2.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66.

About Enovis

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.