Primecap Management Co. CA Decreases Holdings in Enovis Co. (NYSE:ENOV)

Primecap Management Co. CA lessened its position in shares of Enovis Co. (NYSE:ENOV - Free Report) by 86.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,967 shares of the company's stock after selling 73,333 shares during the quarter. Primecap Management Co. CA's holdings in Enovis were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ENOV. Royce & Associates LP grew its holdings in Enovis by 2.8% during the 4th quarter. Royce & Associates LP now owns 2,470,576 shares of the company's stock valued at $108,409,000 after buying an additional 66,891 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Enovis by 19.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company's stock worth $677,000 after purchasing an additional 2,518 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Enovis by 52.8% in the 4th quarter. Natixis Advisors LLC now owns 19,381 shares of the company's stock valued at $850,000 after purchasing an additional 6,701 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in shares of Enovis by 4.0% during the 4th quarter. Ironwood Investment Management LLC now owns 14,155 shares of the company's stock worth $621,000 after purchasing an additional 545 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Enovis by 20.9% during the fourth quarter. First Eagle Investment Management LLC now owns 343,921 shares of the company's stock worth $15,091,000 after buying an additional 59,525 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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Enovis Trading Up 2.4 %

ENOV traded up $0.93 during midday trading on Monday, hitting $40.01. The company's stock had a trading volume of 558,415 shares, compared to its average volume of 672,455. Enovis Co. has a 52-week low of $35.14 and a 52-week high of $62.79. The firm has a 50-day moving average price of $42.72 and a two-hundred day moving average price of $43.50. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.28 billion, a P/E ratio of -18.27 and a beta of 2.05.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. The firm had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. On average, research analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC decreased their target price on shares of Enovis from $65.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th.

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.