T. Rowe Price Investment Manageme recently announced the acquisition of new stake in Enovis Corporation (NYSE:ENOV). This fresh investment now brings its stake to 11.10% valued currently at $321.65 million. In addition, The Vanguard Group, Inc. raised its holdings by 41644.0 to 4.42 million shares. And Diamond Hill Capital Management, has lifted its position by 11.98% or 0.25 million shares – to 2.32 million shares.
With over 0.48 million Enovis Corporation (ENOV) shares trading Friday and a closing price of $59.10 on the day, the dollar volume was approximately $28.5 million. The shares have shown a positive half year performance of 8.82% and its price on 01/13/23 lost nearly -1.58%. Currently, there are 54.14M common shares owned by the public and among those 48.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for ENOV have a consensus price objective of $62.83. The analysts have set the share’s price value over the next 12 months at a high of $68.00 and a low of $53.00. The average price target is 5.94% above its recent price level and a downside to the estimated low will see the stock lose -11.51% over that period. But an upside of 13.09% will see the stock hit the forecast high price target while median target price for the stock is $65.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 582,460 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 321,821 shares.
The top 3 mutual fund holders in Enovis Corporation are T Rowe Price Mid Cap Growth Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. T Rowe Price Mid Cap Growth Fund owns 2.98 million shares of the company’s stock, all valued at over $159.4 million. The company sold 5200.0 shares recently to bring their total holdings to about 5.50% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 280.0 shares to see its total holdings shrink to 1.47 million shares valued at over $78.68 million and representing 2.72% of the shares outstanding. Vanguard Total Stock Market Index bought 2138.0 shares to bring its total holdings to over 1.4 million shares at a value of $74.78 million. Vanguard Total Stock Market Index now owns shares totaling to 2.58% of the shares outstanding.
Shares of Enovis Corporation (NYSE: ENOV) opened at $59.60, down -$0.45 from a prior closing price of $60.05. However, the script later moved the day high at 59.97, down -1.58%. The company’s stock has a 5-day price change of 1.63% and 27.54% over the past three months. ENOV shares are trading 10.43% year to date (YTD), with the 12-month market performance down to -23.78% lower. It has a 12-month low price of $43.88 and touched a high of $78.72 over the same period. ENOV has an average intraday trading volume of 373.24K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.53%, 8.68%, and 3.80% respectively.
Institutional ownership of Enovis Corporation (NYSE: ENOV) shares accounts for 95.30% of the company’s 54.14M shares outstanding. Mutual fund holders own 38.23%, while other institutional holders and individual stakeholders account for 54.64% and 0.17% respectively.
It has a market capitalization of $3.25B and a beta (3y monthly) value of 1.88. The stock’s trailing 12-month PE ratio is 126.01, while the earnings-per-share (ttm) stands at $0.47. The company has a PEG of 12.61 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.37% over the week and 2.48% over the month.
Analysts forecast that Enovis Corporation (ENOV) will achieve an EPS of $0.48 for the current quarter, $0.81 for the next quarter and $2.68 for 2023. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $1.62 a year ago. Earnings per share for the fiscal year are expected to increase by 55.10%, and 8.83% over the next financial year. EPS should grow at an annualized rate of 9.99% over the next five years, compared to -11.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Enovis Corporation (ENOV) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ENOV, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on October 12, 2022, with the firm’s price target at $60. Goldman coverage for the Enovis Corporation (ENOV) stock in a research note released on October 11, 2022 offered a Buy rating with a price target of $57. Evercore ISI was of a view on September 12, 2022 that the stock is Outperform, while Canaccord Genuity gave the stock Buy rating on September 12, 2022, issuing a price target of $67. Argus on their part issued Hold rating on June 28, 2022.