Allspring Global Investments Holdings LLC Reduces Stock Position in Enovis Co. (NYSE:ENOV)

Allspring Global Investments Holdings LLC reduced its holdings in Enovis Co. (NYSE:ENOV - Free Report) by 31.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 684,804 shares of the company's stock after selling 309,634 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.25% of Enovis worth $29,481,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in Enovis by 1,076.7% in the third quarter. Raymond James & Associates now owns 56,692 shares of the company's stock worth $2,441,000 after purchasing an additional 51,874 shares in the last quarter. Trust Point Inc. increased its holdings in shares of Enovis by 19.7% during the third quarter. Trust Point Inc. now owns 15,986 shares of the company's stock valued at $688,000 after acquiring an additional 2,635 shares in the last quarter. Heritage Family Offices LLP bought a new stake in shares of Enovis during the third quarter valued at approximately $206,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Enovis by 20.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 17,622 shares of the company's stock valued at $759,000 after acquiring an additional 2,985 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Enovis by 32.8% during the third quarter. Handelsbanken Fonder AB now owns 10,517 shares of the company's stock valued at $453,000 after acquiring an additional 2,600 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Enovis Stock Up 0.5 %

ENOV stock traded up $0.19 during trading on Thursday, reaching $39.54. The stock had a trading volume of 605,221 shares, compared to its average volume of 565,613. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -26.36 and a beta of 1.91. Enovis Co. has a one year low of $38.27 and a one year high of $65.03. The company's 50 day moving average is $42.66 and its two-hundred day moving average is $46.72.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.03. The firm had revenue of $525.20 million for the quarter, compared to analysts' expectations of $525.99 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. Equities research analysts forecast that Enovis Co. will post 2.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Evercore ISI decreased their price objective on Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, October 1st. Needham & Company LLC lowered their target price on shares of Enovis from $82.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Finally, JMP Securities began 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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.