State Street Corp Has $70.91 Million Holdings in Enovis Co. (NYSE:ENOV)

State Street Corp lifted its holdings in shares of Enovis Co. (NYSE:ENOV) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,647,220 shares of the company’s stock after buying an additional 68,190 shares during the quarter. State Street Corp’s holdings in Enovis were worth $70,913,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ENOV. Envestnet Portfolio Solutions Inc. grew its position in shares of Enovis by 44.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,033 shares of the company’s stock worth $408,000 after buying an additional 2,761 shares during the period. Tributary Capital Management LLC grew its position in shares of Enovis by 20.9% during the 2nd quarter. Tributary Capital Management LLC now owns 409,190 shares of the company’s stock worth $18,495,000 after buying an additional 70,819 shares during the period. Institute for Wealth Management LLC. bought a new position in Enovis during the 2nd quarter worth approximately $241,000. AMG National Trust Bank increased its stake in Enovis by 70.4% in the second quarter. AMG National Trust Bank now owns 27,808 shares of the company’s stock valued at $1,257,000 after purchasing an additional 11,486 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in Enovis in the second quarter valued at approximately $904,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Price Performance

NYSE:ENOV opened at $45.65 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The stock’s 50-day simple moving average is $44.38 and its 200 day simple moving average is $44.56. The company has a market cap of $2.55 billion, a P/E ratio of -20.84 and a beta of 1.94. Enovis Co. has a 52-week low of $38.27 and a 52-week high of $65.03.

Enovis (NYSE:ENOV) last released its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Enovis’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts forecast that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ENOV. Evercore ISI lowered their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. Finally, JMP Securities initiated coverage on Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Company 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.