Wedge Capital Management L L P NC Sells 111,993 Shares of Enovis Corporation $ENOV

Wedge Capital Management L L P NC lessened its stake in shares of Enovis Corporation (NYSE:ENOV) by 68.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,984 shares of the company’s stock after selling 111,993 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Enovis worth $1,547,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ENOV. Teacher Retirement System of Texas raised its stake in Enovis by 6.1% during the second quarter. Teacher Retirement System of Texas now owns 8,664 shares of the company’s stock worth $272,000 after acquiring an additional 495 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Enovis by 2.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,375 shares of the company’s stock valued at $702,000 after purchasing an additional 593 shares in the last quarter. Heritage Family Offices LLP grew its holdings in shares of Enovis by 8.9% in the 3rd quarter. Heritage Family Offices LLP now owns 7,598 shares of the company’s stock worth $231,000 after purchasing an additional 620 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Enovis by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 51,713 shares of the company’s stock worth $1,622,000 after purchasing an additional 621 shares during the last quarter. Finally, Live Oak Investment Partners increased its position in shares of Enovis by 2.5% during the 2nd quarter. Live Oak Investment Partners now owns 26,352 shares of the company’s stock worth $826,000 after purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

In other Enovis news, insider John Kleckner acquired 2,468 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the acquisition, the insider directly owned 12,302 shares of the company’s stock, valued at approximately $372,996.64. This represents a 25.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of Enovis stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total transaction of $27,172.80. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by company insiders.

Enovis Stock Down 3.3%

NYSE ENOV opened at $26.30 on Wednesday. The stock has a market capitalization of $1.50 billion, a P/E ratio of -1.11 and a beta of 1.52. Enovis Corporation has a 52 week low of $25.47 and a 52 week high of $49.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.22. The stock has a fifty day moving average of $29.55 and a 200-day moving average of $30.27.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The business had revenue of $383.81 million for the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%. On average, equities research analysts forecast that Enovis Corporation will post 2.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENOV. Wells Fargo & Company boosted their price target on shares of Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Enovis in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group dropped their price target on Enovis from $58.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.83.

About Enovis

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.