Enovis Co. (NYSE:ENOV) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its stake in shares of Enovis Co. (NYSE:ENOV - Free Report) by 93.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,677 shares of the company's stock after selling 129,777 shares during the quarter. Verition Fund Management LLC's holdings in Enovis were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. grew its stake in shares of Enovis by 7.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company's stock valued at $129,352,000 after buying an additional 218,660 shares during the period. Royce & Associates LP lifted its position in shares of Enovis by 16.8% during the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company's stock worth $103,479,000 after purchasing an additional 346,317 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of 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 stake in Enovis during the 3rd quarter valued at $51,341,000. Finally, Magnetar Financial LLC increased its stake in Enovis by 66.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company's stock worth $49,937,000 after buying an additional 442,051 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Stock Performance

ENOV traded down $0.78 during trading hours on Friday, hitting $46.14. 496,454 shares of the stock were exchanged, compared to its average volume of 580,633. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -21.07 and a beta of 1.94. The stock has a 50-day simple moving average of $44.26 and a 200-day simple moving average of $44.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.11. The company had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. Analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENOV. JMP Securities assumed coverage on Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 target price for the company. Evercore ISI lowered their price objective on Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.

Enovis 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.