Enovis Co. (NYSE:ENOV) Position Reduced by PDT Partners LLC

PDT Partners LLC reduced its stake in shares of Enovis Co. (NYSE:ENOV - Free Report) by 49.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,148 shares of the company's stock after selling 42,510 shares during the quarter. PDT Partners LLC owned about 0.08% of Enovis worth $1,901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENOV. Diamond Hill Capital Management Inc. increased its stake in Enovis by 7.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company's stock valued at $129,352,000 after purchasing an additional 218,660 shares during the period. Royce & Associates LP increased its stake in 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 purchasing an additional 346,317 shares during the period. American Century Companies Inc. increased its stake 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. River Road Asset Management LLC acquired a new position in Enovis in the third quarter valued at $51,341,000. Finally, Magnetar Financial LLC increased its stake in Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company's stock valued at $49,937,000 after purchasing an additional 442,051 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ENOV shares. Needham & Company LLC restated a "buy" rating and issued a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. JMP Securities began coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price target on the stock. Finally, Evercore ISI dropped their price target on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enovis Trading Up 0.7 %

ENOV stock traded up $0.36 on Friday, hitting $48.81. 249,656 shares of the company were exchanged, compared to its average volume of 683,051. Enovis Co. has a twelve month low of $38.27 and a twelve month high of $65.03. 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 business's fifty day moving average is $43.18 and its two-hundred day moving average is $44.86. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -22.29 and a beta of 1.91.

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 the consensus estimate of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. Enovis's revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, research analysts forecast that Enovis Co. will post 2.79 earnings per share for the current 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.