Ellsworth Advisors LLC Increases Position in Enovis Corporation $ENOV

Ellsworth Advisors LLC increased its stake in shares of Enovis Corporation (NYSE:ENOV) by 24.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,543 shares of the company’s stock after buying an additional 3,660 shares during the quarter. Ellsworth Advisors LLC’s holdings in Enovis were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Woodline Partners LP lifted its position in Enovis by 86.7% during the first quarter. Woodline Partners LP now owns 364,895 shares of the company’s stock valued at $13,943,000 after purchasing an additional 169,487 shares during the period. McIlrath & Eck LLC lifted its position in Enovis by 52.2% during the first quarter. McIlrath & Eck LLC now owns 5,274 shares of the company’s stock valued at $202,000 after purchasing an additional 1,808 shares during the period. Empowered Funds LLC lifted its position in 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 purchasing an additional 749 shares during the period. Great Lakes Advisors LLC lifted its position in Enovis by 9.8% during the first quarter. Great Lakes Advisors LLC now owns 58,826 shares of the company’s stock valued at $2,248,000 after purchasing an additional 5,242 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in 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 purchasing an additional 73,116 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Bradley J. Tandy purchased 3,200 shares of Enovis stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the transaction, the senior vice president directly owned 43,515 shares in the company, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Damien Mcdonald purchased 6,457 shares of Enovis stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $30.97 per share, with a total value of $199,973.29. Following the transaction, the chief executive officer owned 102,753 shares in the company, valued at approximately $3,182,260.41. The trade was a 6.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,157 shares of company stock worth $374,760 in the last 90 days. Insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ENOV. Canaccord Genuity Group decreased their target price on shares of Enovis from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Wells Fargo & Company decreased their target price on shares of Enovis from $48.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Evercore ISI decreased their target price on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Needham & Company LLC decreased their price objective on shares of Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, UBS Group decreased their price objective on shares of Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Enovis presently has a consensus rating of “Buy” and a consensus target price of $51.00.

Enovis Stock Up 3.7%

ENOV opened at $31.59 on Friday. Enovis Corporation has a twelve month low of $25.47 and a twelve month high of $49.83. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $29.89 and a 200 day moving average price of $32.83. The company has a market cap of $1.81 billion, a PE ratio of -2.22 and a beta of 1.68.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The firm had revenue of $564.50 million during the quarter, compared to the consensus estimate of $555.80 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Sell-side analysts expect that Enovis Corporation will post 2.79 earnings per share for the current fiscal 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.