Tributary Capital Management LLC Acquires 551,613 Shares of Enovis Corporation $ENOV

Tributary Capital Management LLC increased its holdings in shares of Enovis Corporation (NYSE:ENOV) by 91.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,154,482 shares of the company’s stock after acquiring an additional 551,613 shares during the quarter. Enovis comprises about 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Tributary Capital Management LLC owned approximately 2.02% of Enovis worth $35,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ENOV. Hood River Capital Management LLC grew its position in shares of Enovis by 20.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,735,533 shares of the company’s stock worth $54,426,000 after purchasing an additional 292,950 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Enovis by 3.5% in the second quarter. River Road Asset Management LLC now owns 1,439,923 shares of the company’s stock valued at $45,156,000 after buying an additional 48,036 shares in the last quarter. Boston Partners boosted its stake in shares of Enovis by 42.4% in the second quarter. Boston Partners now owns 1,382,724 shares of the company’s stock valued at $43,352,000 after buying an additional 411,744 shares during the period. Geode Capital Management LLC grew its position in Enovis by 43.8% during the second quarter. Geode Capital Management LLC now owns 1,342,481 shares of the company’s stock worth $42,105,000 after buying an additional 408,608 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its position in Enovis by 41.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,113,300 shares of the company’s stock worth $34,913,000 after buying an additional 326,900 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity at Enovis

In other Enovis news, insider John Kleckner acquired 2,468 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the acquisition, the insider directly owned 12,302 shares in the company, valued at $372,996.64. This represents a 25.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total transaction of $27,172.80. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ENOV shares. Wells Fargo & Company lifted their price objective on Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Evercore ISI set a $40.00 price target on Enovis in a research note on Monday. BTIG Research initiated coverage on shares of Enovis in a research report on Tuesday. They set a “buy” rating and a $41.00 price objective for the company. UBS Group restated a “buy” rating and issued a $50.00 target price on shares of Enovis in a research report on Monday. Finally, Canaccord Genuity Group reduced their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Enovis Price Performance

Shares of NYSE:ENOV opened at $27.73 on Thursday. The firm has a 50 day simple moving average of $28.42 and a 200 day simple moving average of $29.92. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -1.17 and a beta of 1.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.22 and a quick ratio of 1.16. Enovis Corporation has a one year low of $25.47 and a one year high of $49.38.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Monday, January 8th. The company reported $0.59 earnings per share for the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%.The company had revenue of $383.81 million for the quarter. Research analysts predict that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Enovis Profile

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.