King Luther Capital Management Corp Reduces Stock Position in Enovis Corporation $ENOV

King Luther Capital Management Corp trimmed its holdings in shares of Enovis Corporation (NYSE:ENOV) by 78.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,070 shares of the company’s stock after selling 110,769 shares during the period. King Luther Capital Management Corp owned 0.05% of Enovis worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Enovis by 42.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock valued at $37,000 after acquiring an additional 367 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after purchasing an additional 707 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Enovis in the second quarter valued at approximately $46,000. SJS Investment Consulting Inc. increased its stake in Enovis by 30,340.0% in the third quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Enovis by 235.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,703 shares of the company’s stock worth $52,000 after purchasing an additional 1,195 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Daniel A. Pryor sold 999 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total transaction of $27,172.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kleckner purchased 2,468 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the transaction, the insider directly owned 12,302 shares in the company, valued at $372,996.64. This trade represents a 25.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.70% of the stock is currently owned by corporate insiders.

Enovis Stock Up 1.9%

Shares of NYSE:ENOV opened at $22.72 on Friday. Enovis Corporation has a 1-year low of $21.00 and a 1-year high of $44.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.22 and a quick ratio of 1.16. The stock has a market cap of $1.30 billion, a P/E ratio of -0.96 and a beta of 1.52. The firm has a fifty day moving average price of $24.58 and a 200 day moving average price of $28.33.

Analyst Upgrades and Downgrades

ENOV has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group reduced their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. UBS Group restated a “buy” rating and issued a $50.00 price objective on shares of Enovis in a research note on Monday, January 5th. Evercore reaffirmed an “outperform” rating on shares of Enovis in a report on Monday, January 12th. Finally, BTIG Research initiated coverage on Enovis in a research report on Tuesday, January 6th. They set a “buy” rating and a $41.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.71.

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.