Principal Financial Group Inc. Has $5.60 Million Stake in Enovis Co. (NYSE:ENOV)

Principal Financial Group Inc. cut its holdings in Enovis Co. (NYSE:ENOV - Free Report) by 79.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 130,179 shares of the company's stock after selling 492,199 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Enovis worth $5,604,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ENOV. DekaBank Deutsche Girozentrale bought a new stake in shares of Enovis in the third quarter valued at about $55,000. Benjamin F. Edwards & Company Inc. lifted its stake in Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after acquiring an additional 371 shares in the last quarter. FMR LLC boosted its position in Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company's stock worth $122,000 after acquiring an additional 484 shares during the last quarter. Heritage Family Offices LLP bought a new position in shares of Enovis during the 3rd quarter worth approximately $206,000. Finally, XTX Topco Ltd acquired a new stake in shares of Enovis in the third quarter valued at approximately $217,000. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Enovis Stock Performance

ENOV traded up $0.42 during trading on Thursday, hitting $44.30. The stock had a trading volume of 597,415 shares, compared to its average volume of 580,508. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The company has a 50 day moving average price of $45.40 and a 200-day moving average price of $44.33. Enovis Co. has a one year low of $38.27 and a one year high of $65.03. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -20.23 and a beta of 1.94.

Enovis (NYSE:ENOV - Get Free Report) last announced its 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. 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 for the quarter, compared to analyst estimates of $504.44 million. During the same quarter in the prior 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, research analysts predict that Enovis Co. will post 2.79 EPS for the current year.

Enovis 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.