Principal Financial Group Inc. Sells 492,199 Shares of Enovis Co. (NYSE:ENOV)

Principal Financial Group Inc. lessened its holdings in Enovis Co. (NYSE:ENOV - Free Report) by 79.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,179 shares of the company's stock after selling 492,199 shares during the period. Principal Financial Group Inc. owned about 0.23% of Enovis worth $5,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Enovis in the second quarter valued at about $44,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis during the third quarter valued at about $55,000. Innealta Capital LLC acquired a new stake in shares of Enovis during the second quarter valued at about $65,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Enovis by 28.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after purchasing an additional 371 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of Enovis during the first quarter valued at about $239,000. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ENOV shares. Evercore ISI cut their price target on Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reissued a "buy" rating and set a $65.00 price target on shares of Enovis in a research note on Thursday, November 7th. Finally, JMP Securities began coverage on Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price target on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enovis Trading Down 1.1 %

Shares of ENOV stock opened at $44.78 on Thursday. The company has a market cap of $2.50 billion, a P/E ratio of -20.45 and a beta of 1.91. The stock has a 50 day simple moving average of $42.54 and a two-hundred day simple moving average of $45.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. Enovis Co. has a fifty-two week low of $38.27 and a fifty-two week high of $65.03.

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

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.