Enovis Co. (NYSE:ENOV) Sees Significant Growth in Short Interest

Enovis Co. (NYSE:ENOV) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,760,000 shares, a growth of 7.2% from the October 15th total of 4,440,000 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average daily trading volume, of 640,400 shares, the short-interest ratio is presently 7.4 days.

Enovis Stock Performance

Shares of ENOV remained flat at $45.54 during trading hours on Tuesday. The stock had a trading volume of 50,669 shares, compared to its average volume of 579,393. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The business’s fifty day moving average is $42.44 and its 200 day moving average is $45.12. Enovis has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating 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 business had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. During the same quarter last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts predict that Enovis will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

Several hedge funds have recently modified their holdings of ENOV. Price T Rowe Associates Inc. MD raised its holdings in shares of Enovis by 88.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock worth $23,802,000 after purchasing an additional 179,276 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Enovis by 100.6% during the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after acquiring an additional 189,584 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Enovis by 13.3% in the second quarter. First Eagle Investment Management LLC now owns 284,596 shares of the company’s stock worth $12,864,000 after purchasing an additional 33,300 shares during the last quarter. Sei Investments Co. lifted its stake in Enovis by 50.9% in the second quarter. Sei Investments Co. now owns 223,358 shares of the company’s stock worth $10,096,000 after purchasing an additional 75,317 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Enovis by 45.2% in the second quarter. King Luther Capital Management Corp now owns 177,862 shares of the company’s stock worth $8,039,000 after purchasing an additional 55,385 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ENOV shares. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. JMP Securities initiated coverage on Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. Evercore ISI reduced their price target on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Enovis has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.