Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 4,450,000 shares, an increase of 6.7% from the December 31st total of 4,170,000 shares. Approximately 8.1% of the shares of the company are sold short. Based on an average trading volume of 669,300 shares, the short-interest ratio is presently 6.6 days.

Enovis Price Performance

ENOV traded up $0.70 on Tuesday, hitting $45.97. 149,628 shares of the company were exchanged, compared to its average volume of 1,164,973. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The business’s fifty day moving average is $46.04 and its 200 day moving average is $44.50. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The firm has a market capitalization of $2.61 billion, a P/E ratio of -20.99 and a beta of 1.94.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.62 by $0.11. The business 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%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Enovis will post 2.79 EPS for the current year.

Institutional Trading of Enovis

Several large investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. grew its position in shares of Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Aigen Investment Management LP lifted its stake in shares of Enovis by 5.1% during the third quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock valued at $381,000 after buying an additional 430 shares during the period. UMB Bank n.a. lifted its stake in shares of Enovis by 128.2% during the fourth quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after buying an additional 437 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Enovis by 3.5% during the fourth quarter. New York State Teachers Retirement System now owns 13,538 shares of the company’s stock valued at $594,000 after buying an additional 457 shares during the period. Finally, FMR LLC lifted its stake in shares of Enovis by 20.5% during the third 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 period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.86.

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.