River Road Asset Management LLC Invests $51.34 Million in Enovis Co. (NYSE:ENOV)

River Road Asset Management LLC purchased a new stake in Enovis Co. (NYSE:ENOV) in the third quarter, HoldingsChannel reports. The firm purchased 1,192,595 shares of the company’s stock, valued at approximately $51,341,000.

A number of other hedge funds have also modified their holdings of ENOV. State of Michigan Retirement System raised its holdings in Enovis by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,202 shares of the company’s stock worth $762,000 after purchasing an additional 300 shares during the period. Janney Montgomery Scott LLC raised its stake in Enovis by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock worth $305,000 after buying an additional 765 shares during the period. Fidelis Capital Partners LLC bought a new position in Enovis during the first quarter worth about $34,000. DAVENPORT & Co LLC grew its stake in Enovis by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after acquiring an additional 103,027 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Enovis by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 43,480 shares of the company’s stock worth $2,715,000 after acquiring an additional 932 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENOV. Evercore ISI cut their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Needham & Company LLC dropped their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Stock Up 1.4 %

Enovis stock opened at $43.03 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Enovis Co. has a 1-year low of $38.27 and a 1-year high of $65.03. The company has a fifty day simple moving average of $42.21 and a 200 day simple moving average of $45.71. The company has a market cap of $2.40 billion, a P/E ratio of -25.92 and a beta of 1.91.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter last year, the company earned $0.61 EPS. Enovis’s revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts anticipate that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

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.