Cove Street Capital LLC Cuts Stake in Enovis Co. (NYSE:ENOV)

Cove Street Capital LLC decreased its stake in Enovis Co. (NYSE:ENOV) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,893 shares of the company’s stock after selling 13,070 shares during the period. Enovis makes up 2.2% of Cove Street Capital LLC’s portfolio, making the stock its 18th biggest position. Cove Street Capital LLC owned 0.08% of Enovis worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ENOV. Charles Schwab Investment Management Inc. increased its stake in Enovis by 14.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 600,819 shares of the company’s stock worth $25,865,000 after buying an additional 73,623 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Enovis by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 66,668 shares of the company’s stock worth $2,870,000 after acquiring an additional 2,123 shares during the last quarter. FMR LLC increased its position in shares of Enovis by 20.5% during the third quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after acquiring an additional 484 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Enovis by 80.1% in the third quarter. Bridgewater Associates LP now owns 17,588 shares of the company’s stock worth $757,000 after acquiring an additional 7,823 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Enovis by 9.4% during the 3rd quarter. MetLife Investment Management LLC now owns 28,839 shares of the company’s stock valued at $1,242,000 after purchasing an additional 2,476 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Enovis Stock Down 2.9 %

NYSE:ENOV opened at $37.74 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.23 and a beta of 2.05. Enovis Co. has a one year low of $35.14 and a one year high of $62.79. The stock has a 50-day simple moving average of $42.06 and a 200 day simple moving average of $43.35.

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

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC cut their target price on Enovis from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

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.