JPMorgan Chase & Co. Reduces Stake in Enovis Co. (NYSE:ENOV)

JPMorgan Chase & Co. trimmed its position in shares of Enovis Co. (NYSE:ENOV - Free Report) by 36.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,523 shares of the company's stock after selling 109,667 shares during the quarter. JPMorgan Chase & Co. owned 0.34% of Enovis worth $8,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its position in shares of Enovis by 7.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company's stock valued at $129,352,000 after buying an additional 218,660 shares in the last quarter. Royce & Associates LP lifted its position in shares of Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company's stock valued at $103,479,000 after acquiring an additional 346,317 shares in the last quarter. State Street Corp grew its position in shares of Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company's stock worth $70,913,000 after purchasing an additional 68,190 shares in the last quarter. American Century Companies Inc. increased its holdings in Enovis by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company's stock valued at $68,337,000 after acquiring an additional 665,208 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new stake in shares of Enovis in the third quarter worth about $51,341,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Enovis Trading Down 1.2 %

ENOV traded down $0.54 during trading on Tuesday, hitting $44.81. 473,186 shares of the stock were exchanged, compared to its average volume of 2,087,059. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The firm has a 50 day simple moving average of $45.88 and a 200 day simple moving average of $44.32. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -20.46 and a beta of 1.94. Enovis Co. has a 1 year low of $38.27 and a 1 year high of $65.03.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.11. The firm had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company's quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. As a group, equities analysts expect that Enovis Co. will post 2.79 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JMP Securities began coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 target price for the company. Evercore ISI lowered their price target on Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $65.00 price objective on shares of Enovis in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.