Diamond Hill Capital Management Inc. Lowers Stock Position in Enovis Co. (NYSE:ENOV)

Diamond Hill Capital Management Inc. reduced its stake in Enovis Co. (NYSE:ENOV) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,791,436 shares of the company’s stock after selling 213,258 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Enovis were worth $122,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Confluence Investment Management LLC purchased a new stake in Enovis in the fourth quarter valued at approximately $3,494,000. Geode Capital Management LLC raised its stake in shares of Enovis by 9.5% during the third quarter. Geode Capital Management LLC now owns 921,437 shares of the company’s stock worth $39,678,000 after acquiring an additional 80,165 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Enovis by 128.2% in the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Enovis in the 3rd quarter valued at $1,050,000. Finally, Jane Street Group LLC grew its holdings in shares of Enovis by 247.6% during the 3rd quarter. Jane Street Group LLC now owns 106,684 shares of the company’s stock valued at $4,593,000 after purchasing an additional 75,988 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lowered their price target on shares of Enovis from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 27th.

Enovis Stock Performance

NYSE ENOV opened at $35.80 on Friday. The company has a 50-day simple moving average of $43.44 and a two-hundred day simple moving average of $43.80. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Enovis Co. has a 12-month low of $35.14 and a 12-month high of $62.79. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -16.35 and a beta of 2.05.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $560.98 million during the quarter, compared to analyst estimates of $555.14 million. On average, equities analysts forecast that Enovis Co. will post 2.79 EPS for the current year.

About Enovis

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.