PDT Partners LLC Lowers Holdings in Enovis Co. (NYSE:ENOV)

PDT Partners LLC reduced its position in shares of Enovis Co. (NYSE:ENOV) by 49.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,148 shares of the company’s stock after selling 42,510 shares during the period. PDT Partners LLC owned approximately 0.08% of Enovis worth $1,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in Enovis during the second quarter valued at about $44,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Enovis during the 3rd quarter valued at about $55,000. Innealta Capital LLC purchased a new position in shares of Enovis during the 2nd quarter valued at about $65,000. Benjamin F. Edwards & Company Inc. lifted its position in Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares during the last quarter. Finally, FMR LLC boosted its stake in Enovis by 20.5% in the third quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after buying an additional 484 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

Shares of Enovis stock opened at $48.81 on Friday. The company’s fifty day simple moving average is $43.18 and its two-hundred day simple moving average is $44.86. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The firm has a market cap of $2.73 billion, a PE ratio of -22.29 and a beta of 1.91. 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 (NYSE:ENOV) last posted its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. During the same period last year, the firm earned $0.56 earnings per share. Enovis’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, equities analysts expect that Enovis Co. will post 2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ENOV shares. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Enovis in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their price target on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Finally, JMP Securities started coverage on Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enovis presently has an average rating of “Moderate Buy” and an average price target of $67.00.

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.