Geode Capital Management LLC Increases Stock Position in Enovis Co. (NYSE:ENOV)

Geode Capital Management LLC increased its position in shares of Enovis Co. (NYSE:ENOV - Free Report) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 921,437 shares of the company's stock after buying an additional 80,165 shares during the quarter. Geode Capital Management LLC owned about 1.65% of Enovis worth $39,678,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in Enovis during the 2nd quarter valued at about $44,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Enovis during the third quarter valued at approximately $55,000. Innealta Capital LLC bought a new stake in Enovis during the second quarter worth $65,000. Benjamin F. Edwards & Company Inc. raised its position 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 buying an additional 371 shares during the last quarter. Finally, FMR LLC lifted its stake in Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company's stock valued at $122,000 after acquiring an additional 484 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENOV has been the subject of several recent analyst reports. 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. JMP Securities initiated coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enovis Stock Performance

Shares of Enovis stock traded up $0.74 on Wednesday, reaching $43.95. 245,834 shares of the company traded hands, compared to its average volume of 581,985. 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 firm has a market capitalization of $2.46 billion, a PE ratio of -20.07 and a beta of 1.94. The company has a 50 day moving average of $44.89 and a 200 day moving average of $44.36. Enovis Co. has a 52 week low of $38.27 and a 52 week high of $65.03.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $504.44 million. During the same period in the prior year, the company earned $0.56 earnings per share. Enovis's revenue was up 21.0% compared to the same quarter last year. Equities 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.