Enovis Co. (NYSE:ENOV) is Channing Capital Management LLC’s Largest Position

Channing Capital Management LLC increased its stake in Enovis Co. (NYSE:ENOV) by 26.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,588,417 shares of the company’s stock after acquiring an additional 334,154 shares during the quarter. Enovis makes up about 2.6% of Channing Capital Management LLC’s portfolio, making the stock its biggest holding. Channing Capital Management LLC owned 2.91% of Enovis worth $88,983,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Enovis by 144.6% during the third quarter. Fifth Third Bancorp now owns 587 shares of the company’s stock worth $31,000 after buying an additional 347 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 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 in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Enovis by 97.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock worth $47,000 after buying an additional 417 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Enovis during the 4th quarter valued at about $53,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Enovis during the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

Shares of ENOV traded down $0.86 during mid-day trading on Friday, reaching $51.27. 1,147,518 shares of the company’s stock were exchanged, compared to its average volume of 520,993. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16. The stock has a market capitalization of $2.81 billion, a PE ratio of -34.18 and a beta of 1.99. The business’s fifty day simple moving average is $59.15 and its 200-day simple moving average is $55.79. Enovis Co. has a 52-week low of $43.04 and a 52-week high of $66.14.

Enovis (NYSE:ENOV) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $516.00 million for the quarter, compared to analyst estimates of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, equities research analysts expect that Enovis Co. will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. UBS Group initiated coverage on shares of Enovis in a research report on Monday, January 22nd. They issued a “buy” rating and a $75.00 target price on the stock. Stephens initiated coverage on shares of Enovis in a research report on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Enovis in a research report on Friday. Finally, Wells Fargo & Company upped their target price 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price 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.