Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,780,000 shares, a decrease of 13.9% from the July 15th total of 4,390,000 shares. Based on an average trading volume of 664,200 shares, the short-interest ratio is currently 5.7 days. Currently, 6.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ENOV shares. JPMorgan Chase & Co. cut their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Evercore ISI cut their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC decreased their target price on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Enovis has a consensus rating of “Moderate Buy” and a consensus price target of $69.13.

Enovis Price Performance

Shares of Enovis stock traded up $0.60 on Monday, hitting $44.75. 309,365 shares of the company were exchanged, compared to its average volume of 559,803. The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $44.97 and a 200 day moving average price of $52.62. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -29.83 and a beta of 1.92. Enovis has a 1-year low of $39.98 and a 1-year high of $65.03.

Enovis (NYSE:ENOV) last issued its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $525.99 million. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts predict that Enovis will post 2.61 earnings per share for the current fiscal year.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in ENOV. American Century Companies Inc. increased its position in shares of Enovis by 78.6% during the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock valued at $68,337,000 after acquiring an additional 665,208 shares during the last quarter. Wells Fargo & Company MN raised its position in Enovis by 907.7% in the fourth quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock valued at $31,339,000 after purchasing an additional 503,913 shares during the period. Magnetar Financial LLC lifted its stake in Enovis by 66.7% during the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after purchasing an additional 442,051 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Enovis by 14.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after purchasing an additional 352,116 shares in the last quarter. Finally, Channing Capital Management LLC boosted its position in shares of Enovis by 26.6% during the fourth quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after buying an additional 334,154 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.