Thrivent Financial for Lutherans Sells 1,579,438 Shares of Enovis Co. (NYSE:ENOV)

Thrivent Financial for Lutherans decreased its stake in Enovis Co. (NYSE:ENOV - Free Report) by 86.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,435 shares of the company's stock after selling 1,579,438 shares during the period. Thrivent Financial for Lutherans owned about 0.43% of Enovis worth $10,351,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ENOV. River Road Asset Management LLC acquired a new position in Enovis in the 3rd quarter valued at approximately $51,341,000. American Century Companies Inc. increased its holdings in Enovis by 78.6% in the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company's stock valued at $68,337,000 after purchasing an additional 665,208 shares during the period. Magnetar Financial LLC raised its position in Enovis by 66.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company's stock worth $49,937,000 after purchasing an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Enovis by 14.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company's stock worth $125,929,000 after acquiring an additional 352,116 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Enovis by 16.8% in the 3rd quarter. Royce & Associates LP now owns 2,403,685 shares of the company's stock worth $103,479,000 after purchasing an additional 346,317 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ENOV shares. JPMorgan Chase & Co. dropped their price objective on Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Evercore ISI reduced their price target on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC restated 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 started coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Enovis has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enovis Stock Performance

Shares of Enovis stock traded up $0.49 during mid-day trading on Friday, hitting $46.66. 604,677 shares of the stock were exchanged, compared to its average volume of 581,321. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03. The company has a 50-day simple moving average of $42.63 and a 200 day simple moving average of $45.04. The company has a market capitalization of $2.61 billion, a P/E ratio of -21.13 and a beta of 1.91. 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 (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. During the same period last year, the company posted $0.56 earnings per share. Enovis's quarterly revenue was up 21.0% compared to the same quarter last year. Sell-side analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current fiscal year.

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.