Raymond James Financial Inc. Takes Position in Enovis Co. (NYSE:ENOV)

Raymond James Financial Inc. bought a new stake in Enovis Co. (NYSE:ENOV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 373,911 shares of the company’s stock, valued at approximately $16,407,000.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. increased its holdings in shares of Enovis by 128.2% in the fourth quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the period. Pinnacle Bancorp Inc. increased its holdings in shares of Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. FMR LLC increased its holdings in shares of Enovis by 20.5% in the third quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after purchasing an additional 484 shares during the period. XTX Topco Ltd acquired a new position in shares of Enovis in the third quarter valued at approximately $217,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Enovis in the fourth quarter valued at approximately $228,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Up 5.9 %

Enovis stock opened at $39.23 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis Co. has a 1-year low of $35.14 and a 1-year high of $62.79. The company has a market cap of $2.23 billion, a PE ratio of -17.91 and a beta of 2.05. The stock’s 50 day moving average price is $43.21 and its 200 day moving average price is $43.67.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm had revenue of $560.98 million for the quarter, compared to the consensus estimate of $555.14 million. On average, sell-side analysts predict that Enovis Co. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC decreased their price target on Enovis from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th.

About Enovis

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.