Raymond James & Associates Purchases 51,874 Shares of Enovis Co. (NYSE:ENOV)

Raymond James & Associates boosted its stake in Enovis Co. (NYSE:ENOV - Free Report) by 1,076.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,692 shares of the company's stock after buying an additional 51,874 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Enovis worth $2,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new position in Enovis in the 1st quarter valued at $34,000. Ridgewood Investments LLC acquired a new position in Enovis in the 2nd quarter valued at $44,000. Innealta Capital LLC acquired a new position in Enovis in the 2nd quarter valued at $65,000. Benjamin F. Edwards & Company Inc. grew its stake in Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after buying an additional 371 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Enovis in the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price target on the stock. Evercore ISI decreased their price target on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 1st. Finally, Needham & Company LLC decreased their price target on shares of Enovis from $82.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Enovis presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enovis Price Performance

Shares of NYSE:ENOV traded up $3.58 during midday trading on Wednesday, reaching $46.89. 1,551,122 shares of the company's stock were exchanged, compared to its average volume of 579,490. The company's 50 day simple moving average is $42.16 and its two-hundred day simple moving average is $45.62. The firm has a market capitalization of $2.62 billion, a PE ratio of -29.89 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 quick ratio of 1.08 and a current ratio of 2.26.

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