Retirement Systems of Alabama Has $3.33 Million Stake in Enovis Co. (NYSE:ENOV)

Posted by Defense World Staff on Jul 28th, 2023

Retirement Systems of Alabama cut its holdings in Enovis Co. (NYSE:ENOV – Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,261 shares of the company’s stock after selling 543 shares during the period. Retirement Systems of Alabama owned 0.11% of Enovis worth $3,330,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ENOV. T. Rowe Price Investment Management Inc. raised its position in shares of Enovis by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,040,170 shares of the company’s stock valued at $323,270,000 after buying an additional 30,198 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Enovis by 1.0% during the third quarter. Vanguard Group Inc. now owns 4,482,428 shares of the company’s stock valued at $206,505,000 after purchasing an additional 43,799 shares during the period. BlackRock Inc. lifted its position in Enovis by 0.4% in the third quarter. BlackRock Inc. now owns 4,279,254 shares of the company’s stock worth $197,144,000 after purchasing an additional 15,108 shares during the period. Dimensional Fund Advisors LP boosted its stake in Enovis by 19.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,762,799 shares of the company’s stock worth $147,867,000 after buying an additional 450,715 shares in the last quarter. Finally, Durable Capital Partners LP increased its holdings in Enovis by 1.3% in the 4th quarter. Durable Capital Partners LP now owns 2,714,032 shares of the company’s stock valued at $145,255,000 after buying an additional 34,825 shares during the period. Institutional investors and hedge funds own 93.77% of the company’s stock.

Insider Buying and Selling at Enovis

In other news, Director Rajiv Vinnakota sold 1,396 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $57.18, for a total value of $79,823.28. Following the completion of the sale, the director now directly owns 11,901 shares of the company’s stock, valued at approximately $680,499.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Enovis news, CFO Phillip Benjamin (Ben) Berry sold 645 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $54.17, for a total value of $34,939.65. Following the completion of the transaction, the chief financial officer now directly owns 20,223 shares of the company’s stock, valued at $1,095,479.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rajiv Vinnakota sold 1,396 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $57.18, for a total value of $79,823.28. Following the completion of the sale, the director now owns 11,901 shares of the company’s stock, valued at $680,499.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,108 shares of company stock valued at $119,139. 5.10% of the stock is currently owned by company insiders.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $63.96 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -66.63 and a beta of 2.05. The company has a current ratio of 2.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. Enovis Co. has a 1-year low of $43.88 and a 1-year high of $66.71. The business has a 50-day moving average price of $60.29 and a two-hundred day moving average price of $58.40.

Enovis (NYSE:ENOV – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $406.20 million for the quarter, compared to analysts’ expectations of $389.95 million. Enovis had a negative net margin of 3.24% and a positive return on equity of 3.70%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities analysts predict that Enovis Co. will post 2.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ENOV shares. Robert W. Baird lifted their target price on shares of Enovis from $64.00 to $67.00 in a research report on Friday, May 5th. 888 reiterated an “initiates” rating on shares of Enovis in a research note on Monday, June 26th. Wells Fargo & Company upgraded Enovis from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $67.00 in a research report on Friday, May 12th. Finally, Needham & Company LLC began coverage on shares of Enovis in a research note on Monday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $64.86.

About Enovis

(Free Report)

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufacture 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.