Enovis Co. (NYSE:ENOV) Short Interest Down 8.4% in July

Enovis Co. (NYSE:ENOV) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 4,390,000 shares, a decrease of 8.4% from the June 30th total of 4,790,000 shares. Based on an average trading volume of 627,400 shares, the short-interest ratio is currently 7.0 days. Approximately 8.1% of the company’s stock are short sold.

Enovis Stock Performance

ENOV stock traded down $1.11 during mid-day trading on Thursday, reaching $46.53. The company had a trading volume of 515,233 shares, compared to its average volume of 540,233. The stock’s 50-day simple moving average is $46.35 and its two-hundred day simple moving average is $54.10. The stock has a market capitalization of $2.55 billion, a P/E ratio of -31.03 and a beta of 1.92. The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. Enovis has a one year low of $43.04 and a one year high of $65.03.

Enovis (NYSE:ENOV) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. Enovis’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Research analysts anticipate that Enovis will post 2.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Enovis in a report on Thursday, June 13th. They issued a “neutral” rating and a $53.00 price objective for the company. Evercore ISI dropped their price target on Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Enovis in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Enovis currently has an average rating of “Moderate Buy” and a consensus price target of $71.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Enovis by 19.9% during the first quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after acquiring an additional 180 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Enovis by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock worth $1,303,000 after buying an additional 220 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Enovis by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 62,222 shares of the company’s stock valued at $3,486,000 after buying an additional 251 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Enovis by 5.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,185 shares of the company’s stock valued at $290,000 after buying an additional 264 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Enovis by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $893,000 after acquiring an additional 300 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.