State Street Corp Increases Stock Holdings in Enovis Co. (NYSE:ENOV)

State Street Corp grew its position in Enovis Co. (NYSE:ENOV - Free Report) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,647,220 shares of the company's stock after buying an additional 68,190 shares during the period. State Street Corp owned 2.95% of Enovis worth $70,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in Enovis by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 99,679 shares of the company's stock worth $4,291,000 after buying an additional 6,757 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Enovis during the third quarter valued at about $314,000. Quantinno Capital Management LP raised its position in shares of Enovis by 363.8% in the 3rd quarter. Quantinno Capital Management LP now owns 28,804 shares of the company's stock valued at $1,240,000 after purchasing an additional 22,593 shares during the last quarter. Holocene Advisors LP boosted its stake in Enovis by 120.6% in the 3rd quarter. Holocene Advisors LP now owns 71,112 shares of the company's stock worth $3,061,000 after purchasing an additional 38,880 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in Enovis during the 3rd quarter worth approximately $326,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Enovis Stock Down 0.3 %

Shares of ENOV stock opened at $45.65 on Wednesday. Enovis Co. has a twelve month low of $38.27 and a twelve month high of $65.03. The stock has a market cap of $2.55 billion, a P/E ratio of -20.84 and a beta of 1.94. The stock has a 50 day moving average of $44.38 and a 200 day moving average of $44.56. 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 (NYSE:ENOV - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $505.22 million during the quarter, compared to analysts' expectations of $504.44 million. During the same period in the previous year, the business posted $0.56 EPS. The business's revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Enovis Co. will post 2.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Evercore ISI lowered their price objective 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. JMP Securities assumed coverage on Enovis in a research note on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.