Confluence Investment Management LLC Makes New $3.49 Million Investment in Enovis Co. (NYSE:ENOV)

Confluence Investment Management LLC bought a new stake in shares of Enovis Co. (NYSE:ENOV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,622 shares of the company's stock, valued at approximately $3,494,000. Confluence Investment Management LLC owned approximately 0.14% of Enovis at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Retirement Systems of Alabama lifted its stake in shares of Enovis by 10.1% in the third quarter. Retirement Systems of Alabama now owns 67,846 shares of the company's stock valued at $2,921,000 after buying an additional 6,239 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Enovis by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 921,437 shares of the company's stock worth $39,678,000 after acquiring an additional 80,165 shares during the last quarter. Barclays PLC lifted its position in Enovis by 16.1% in the 3rd quarter. Barclays PLC now owns 368,488 shares of the company's stock valued at $15,864,000 after acquiring an additional 51,151 shares in the last quarter. MML Investors Services LLC boosted its stake in Enovis by 17.2% during the 3rd quarter. MML Investors Services LLC now owns 44,179 shares of the company's stock valued at $1,902,000 after purchasing an additional 6,476 shares during the last quarter. Finally, First National Bank of Omaha increased its holdings in Enovis by 3.0% during the 3rd quarter. First National Bank of Omaha now owns 53,866 shares of the company's stock worth $2,319,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Trading Down 2.3 %

NYSE ENOV traded down $1.03 on Friday, hitting $43.27. The company's stock had a trading volume of 909,372 shares, compared to its average volume of 753,386. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis Co. has a 52-week low of $38.27 and a 52-week high of $65.03. The firm has a market cap of $2.42 billion, a P/E ratio of -19.76 and a beta of 1.94. The company's 50-day simple moving average is $45.47 and its 200 day simple moving average is $44.32.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.11. The company had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. Enovis's revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Research analysts predict that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ENOV. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price objective on the stock. Finally, Evercore ISI reduced their target price on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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.