Retirement Systems of Alabama Purchases 251 Shares of Enovis Co. (NYSE:ENOV)

Retirement Systems of Alabama lifted its position in Enovis Co. (NYSE:ENOV) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,222 shares of the company’s stock after buying an additional 251 shares during the period. Retirement Systems of Alabama owned about 0.11% of Enovis worth $3,486,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Enovis by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,986 shares of the company’s stock worth $474,000 after buying an additional 1,037 shares during the period. Strs Ohio increased its position in shares of Enovis by 16.5% during the 3rd quarter. Strs Ohio now owns 16,558 shares of the company’s stock worth $873,000 after purchasing an additional 2,342 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of Enovis during the 3rd quarter worth approximately $204,000. TD Asset Management Inc raised its position in Enovis by 2.2% during the third quarter. TD Asset Management Inc now owns 450,540 shares of the company’s stock worth $23,757,000 after acquiring an additional 9,600 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Enovis by 902.7% during the third quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock worth $39,000 after buying an additional 659 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Up 2.6 %

ENOV stock opened at $52.24 on Wednesday. The firm has a 50-day moving average price of $58.76 and a 200-day moving average price of $55.89. Enovis Co. has a 12 month low of $43.04 and a 12 month high of $66.14. The company has a current ratio of 2.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.87 billion, a P/E ratio of -34.83 and a beta of 1.99.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, equities research analysts anticipate that Enovis Co. will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENOV has been the topic of several research reports. UBS Group started coverage on shares of Enovis in a report on Monday, January 22nd. They issued a “buy” rating and a $75.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Enovis in a report on Friday, May 3rd. Stephens assumed coverage on shares of Enovis in a research report on Tuesday, February 13th. They set an “overweight” rating and a $72.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group raised their price objective on Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $75.43.

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.