Connor Clark & Lunn Investment Management Ltd. Sells 31,643 Shares of Enovis Co. (NYSE:ENOV)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Enovis Co. (NYSE:ENOV) by 20.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 126,440 shares of the company’s stock after selling 31,643 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Enovis were worth $5,443,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ENOV. Ridgewood Investments LLC bought a new position in shares of Enovis during the second quarter valued at $44,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis during the 3rd quarter worth about $55,000. Innealta Capital LLC bought a new position in Enovis during the 2nd quarter valued at about $65,000. Benjamin F. Edwards & Company Inc. boosted its position in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after buying an additional 371 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in Enovis during the first quarter worth about $239,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ENOV shares. JMP Securities assumed coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. Evercore ISI lowered their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price target 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Price Performance

Enovis stock opened at $46.66 on Friday. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -21.13 and a beta of 1.91. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $42.63 and its 200 day simple moving average is $45.04.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. During the same quarter in the previous year, the company earned $0.56 EPS. Enovis’s revenue was up 21.0% on a year-over-year basis. As a group, research analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current 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.