Connor Clark & Lunn Investment Management Ltd. Sells 31,643 Shares of Enovis Co. (NYSE:ENOV)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Enovis Co. (NYSE:ENOV) by 20.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,440 shares of the company’s stock after selling 31,643 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Enovis worth $5,443,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. River Road Asset Management LLC acquired a new position in shares of Enovis during the 3rd quarter valued at about $51,341,000. American Century Companies Inc. boosted its position in Enovis by 78.6% during the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after purchasing an additional 665,208 shares during the period. Magnetar Financial LLC grew its holdings in Enovis by 66.7% during the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after purchasing an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Enovis by 14.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock valued at $125,929,000 after purchasing an additional 352,116 shares during the period. Finally, Royce & Associates LP lifted its stake in shares of Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after buying an additional 346,317 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ENOV shares. Evercore ISI lowered their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, JMP Securities started coverage on Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Trading Up 1.1 %

Shares of ENOV opened at $46.66 on Friday. The stock’s 50-day moving average price is $42.63 and its 200 day moving average price is $45.04. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Enovis Co. 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 -21.13 and a beta of 1.91.

Enovis (NYSE:ENOV) last issued its earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 was up 21.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, research analysts predict that Enovis Co. will post 2.79 earnings per share 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.