Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 4,450,000 shares, an increase of 6.7% from the December 31st total of 4,170,000 shares. Approximately 8.1% of the shares of the company are sold short. Based on an average daily volume of 669,300 shares, the days-to-cover ratio is presently 6.6 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Enovis presently has an average rating of “Moderate Buy” and an average target price of $65.86.

Institutional Trading of Enovis

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Enovis by 12.3% in the second quarter. The Manufacturers Life Insurance Company now owns 64,545 shares of the company’s stock valued at $2,917,000 after purchasing an additional 7,066 shares during the period. Algert Global LLC bought a new position in shares of Enovis during the 2nd quarter worth $250,000. Truist Financial Corp increased its stake in shares of Enovis by 73.7% during the second quarter. Truist Financial Corp now owns 23,904 shares of the company’s stock valued at $1,080,000 after buying an additional 10,141 shares during the period. Park Avenue Securities LLC increased its stake in shares of Enovis by 16.3% during the third quarter. Park Avenue Securities LLC now owns 10,655 shares of the company’s stock valued at $459,000 after buying an additional 1,493 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Enovis by 32.8% in the third quarter. Handelsbanken Fonder AB now owns 10,517 shares of the company’s stock valued at $453,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

ENOV stock traded up $0.70 during midday trading on Tuesday, hitting $45.97. The company’s stock had a trading volume of 114,172 shares, compared to its average volume of 1,163,733. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $46.04 and a two-hundred day moving average of $44.50. Enovis has a 12 month low of $38.27 and a 12 month high of $65.03. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.00 and a beta of 1.94.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Enovis’s revenue was up 21.0% on a year-over-year basis. On average, analysts expect that Enovis will post 2.79 EPS for the current 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.