Enovis Corporation (NYSE:ENOV) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Enovis Corporation (NYSE:ENOV) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,123 shares of the company’s stock after selling 15,194 shares during the period. Allspring Global Investments Holdings LLC owned 0.49% of Enovis worth $10,341,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ENOV. Aster Capital Management DIFC Ltd purchased a new position in Enovis during the 4th quarter worth $29,000. Quadrant Capital Group LLC raised its position in Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. Farther Finance Advisors LLC raised its position in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 536 shares during the last quarter. Quarry LP raised its position in Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after buying an additional 749 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Enovis by 144.8% during the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock worth $45,000 after buying an additional 692 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ENOV. JMP Securities cut their price target on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating for the company in a report on Friday, May 9th. Canaccord Genuity Group cut their price target on shares of Enovis from $75.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Finally, Needham & Company LLC cut their price target on shares of Enovis from $64.00 to $57.00 and set a “buy” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Enovis Price Performance

Enovis stock opened at $33.65 on Friday. The firm’s 50-day moving average is $33.02 and its two-hundred day moving average is $38.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. Enovis Corporation has a 12-month low of $28.83 and a 12-month high of $49.83. The stock has a market capitalization of $1.92 billion, a P/E ratio of -2.41 and a beta of 1.70.

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