Ellsworth Advisors LLC Acquires Shares of 14,883 Enovis Co. (NYSE:ENOV)

Ellsworth Advisors LLC bought a new position in shares of Enovis Co. (NYSE:ENOV) during the 4th quarter, Holdings Channel.com reports. The fund bought 14,883 shares of the company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENOV. Diamond Hill Capital Management Inc. raised 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 in the last quarter. 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 acquiring an additional 346,317 shares during the last quarter. State Street Corp lifted its stake in Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after purchasing an additional 68,190 shares during the last quarter. River Road Asset Management LLC acquired a new stake in shares of Enovis in the 3rd quarter valued at $51,341,000. Finally, Magnetar Financial LLC raised its holdings in shares of 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 in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ENOV. Evercore ISI decreased their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Enovis in a research report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enovis Price Performance

ENOV stock opened at $46.68 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. Enovis Co. has a 52-week low of $38.27 and a 52-week high of $65.03. The company has a market capitalization of $2.61 billion, a P/E ratio of -21.32 and a beta of 1.94. The company has a fifty day moving average price of $45.83 and a 200-day moving average price of $44.37.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. The business had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. Enovis’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. As a group, equities analysts expect that Enovis Co. will post 2.79 EPS 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.