Arizona State Retirement System Sells 243 Shares of Enovis Co. (NYSE:ENOV)

Arizona State Retirement System cut its holdings in shares of Enovis Co. (NYSE:ENOV) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,722 shares of the company’s stock after selling 243 shares during the period. Arizona State Retirement System’s holdings in Enovis were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENOV. State Street Corp bought a new stake in shares of Enovis during the second quarter worth about $72,935,000. Goldman Sachs Group Inc. bought a new stake in shares of Enovis during the second quarter worth about $51,978,000. Select Equity Group L.P. bought a new stake in shares of Enovis during the fourth quarter worth about $38,546,000. Northern Trust Corp bought a new stake in shares of Enovis during the second quarter worth about $20,359,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Enovis during the fourth quarter worth about $19,395,000. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Stephens assumed coverage on shares of Enovis in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of Enovis in a research note on Wednesday, April 10th. William Blair assumed coverage on shares of Enovis in a research note on Wednesday, January 3rd. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company increased their price objective on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Enovis presently has an average rating of “Buy” and a consensus target price of $75.43.

Enovis Trading Down 0.5 %

Shares of ENOV stock opened at $56.24 on Thursday. The company has a 50 day moving average of $60.49 and a 200-day moving average of $55.29. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.14. Enovis Co. has a 12-month low of $43.04 and a 12-month high of $66.14. The firm has a market cap of $3.08 billion, a P/E ratio of -92.20 and a beta of 1.97.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03. Enovis had a negative net margin of 1.95% and a positive return on equity of 3.84%. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $444.34 million. During the same quarter last year, the business posted $0.72 EPS. Enovis’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Enovis Co. will post 2.58 earnings per share for the current year.

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.