Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) was the recipient of a significant growth in short interest in 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 shares of the stock are short sold. Based on an average daily trading volume, of 640,400 shares, the short-interest ratio is currently 7.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENOV. Ridgewood Investments LLC bought a new position in shares of Enovis in the 2nd quarter worth about $44,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis in the 3rd quarter worth about $55,000. Innealta Capital LLC purchased a new position in shares of Enovis during the second quarter valued at approximately $65,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of 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 acquiring an additional 371 shares in the last quarter. Finally, FMR LLC increased its stake in Enovis by 20.5% in the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enovis Price Performance

Shares of NYSE ENOV traded up $0.22 during mid-day trading on Tuesday, hitting $45.76. 34,792 shares of the stock traded hands, compared to its average volume of 579,322. Enovis has a twelve month low of $38.27 and a twelve month high of $65.03. The firm has a 50 day simple moving average of $42.44 and a two-hundred day simple moving average of $45.12. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40.

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

About Enovis

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.