Bernzott Capital Advisors Grows Position in Enovis Co. (NYSE:ENOV)

Bernzott Capital Advisors lifted its stake in shares of Enovis Co. (NYSE:ENOV - Free Report) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,860 shares of the company's stock after purchasing an additional 23,130 shares during the period. Enovis comprises 2.6% of Bernzott Capital Advisors' investment portfolio, making the stock its 24th biggest position. Bernzott Capital Advisors owned about 0.25% of Enovis worth $6,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State of Michigan Retirement System grew its stake in Enovis by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 12,202 shares of the company's stock valued at $762,000 after acquiring an additional 300 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Enovis by 25.6% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 12,380 shares of the company's stock valued at $773,000 after buying an additional 2,521 shares during the period. SeaBridge Investment Advisors LLC grew its stake in shares of Enovis by 165.6% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 22,232 shares of the company's stock valued at $1,388,000 after buying an additional 13,861 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Enovis by 18.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company's stock valued at $305,000 after buying an additional 765 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Enovis in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective 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. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, October 1st. JMP Securities assumed coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price objective on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Enovis from $82.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Enovis has an average rating of "Moderate Buy" and an average target price of $67.00.

Enovis Stock Down 1.7 %

Shares of Enovis stock traded down $0.68 during trading on Tuesday, hitting $40.49. 456,243 shares of the stock were exchanged, compared to its average volume of 566,143. The firm's 50-day moving average price is $42.51 and its 200 day moving average price is $46.23. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -27.15 and a beta of 1.91. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08.

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