Stonegate Investment Group LLC Buys New Shares in Enovis Corporation (NYSE:ENOV)

Stonegate Investment Group LLC bought a new stake in Enovis Corporation (NYSE:ENOV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,211 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Enovis by 266.7% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 536 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Enovis in the fourth quarter valued at $29,000. Quadrant Capital Group LLC lifted its holdings in Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Quarry LP lifted its holdings in Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company’s stock valued at $39,000 after buying an additional 749 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Enovis by 144.8% in the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $45,000 after buying an additional 692 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Price Performance

Shares of NYSE ENOV opened at $30.13 on Monday. The firm’s 50-day moving average price is $33.07 and its 200-day moving average price is $38.85. Enovis Corporation has a 1-year low of $29.13 and a 1-year high of $49.83. The firm has a market capitalization of $1.72 billion, a P/E ratio of -2.16 and a beta of 1.72. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52.

Enovis (NYSE:ENOV) last posted its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The company had revenue of $558.83 million for the quarter, compared to analyst estimates of $558.80 million. During the same quarter in the prior year, the business posted $0.50 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ENOV shares. JMP Securities dropped their price objective on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Needham & Company LLC dropped their price objective on shares of Enovis from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Canaccord Genuity Group dropped their price objective on shares of Enovis from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

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.