OP Asset Management Ltd Purchases New Position in Enovis Corporation $ENOV

OP Asset Management Ltd acquired a new position in Enovis Corporation (NYSE:ENOV) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 40,910 shares of the company’s stock, valued at approximately $931,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Enovis by 12.5% in the 1st quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock worth $2,363,000 after buying an additional 7,072 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Enovis by 37.6% during the first quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock valued at $10,226,000 after buying an additional 73,116 shares during the period. Empowered Funds LLC increased its stake in shares of Enovis by 13.0% during the first quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after buying an additional 749 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after acquiring an additional 707 shares in the last quarter. Finally, Amundi raised its holdings in shares of Enovis by 24,405.0% in the second quarter. Amundi now owns 9,802 shares of the company’s stock valued at $328,000 after acquiring an additional 9,762 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Enovis Price Performance

ENOV opened at $21.99 on Tuesday. The business’s 50-day moving average is $23.51 and its two-hundred day moving average is $24.00. Enovis Corporation has a 1 year low of $20.55 and a 1 year high of $36.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.05. The firm has a market capitalization of $1.27 billion, a PE ratio of -1.11 and a beta of 1.38.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The business had revenue of $589.15 million during the quarter, compared to analyst estimates of $572.02 million. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Research analysts anticipate that Enovis Corporation will post 3.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ENOV. Wells Fargo & Company dropped their target price on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. William Blair initiated coverage on shares of Enovis in a report on Friday, April 17th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovis in a research report on Friday, April 10th. Zacks Research downgraded shares of Enovis from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen lowered shares of Enovis from a “buy” rating to a “hold” rating in a report on Sunday. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Insiders Place Their Bets

In other news, insider Oliver Engert bought 1,200 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $21.62 per share, for a total transaction of $25,944.00. Following the completion of the purchase, the insider directly owned 51,840 shares in the company, valued at approximately $1,120,780.80. The trade was a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 4,200 shares of company stock valued at $92,084 in the last three months. 2.90% of the stock is owned by company insiders.

Enovis Company Profile

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.