Should You Invest in Enovis Corporation (ENOV)?
Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio delivered positive results in the second quarter while modestly trailing the Russell Midcap Index. The healthcare holdings positively contributed to the relative performance while the information technology and materials holdings trailed benchmark peers. The fund returned 6.76% (net) in Q2 compared to 9.10% for the benchmark. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Diamond Hill Capital Mid Cap Strategy highlighted stocks like Enovis Corporation (NYSE:ENOV) in the second quarter 2023 investor letter. Headquartered in Wilmington, Delaware, Enovis Corporation (NYSE:ENOV) is a medical technology company. On September 6, 2023, Enovis Corporation (NYSE:ENOV) stock closed at $54.63 per share. One-month return of Enovis Corporation (NYSE:ENOV) was -2.13%, and its shares gained 8.09% of their value over the last 52 weeks. Enovis Corporation (NYSE:ENOV) has a market capitalization of $2.98 billion.
Diamond Hill Capital Mid Cap Strategy made the following comment about Enovis Corporation (NYSE:ENOV) in its Q2 2023 investor letter:
"Among our top contributors in Q2 were WESCO International and Enovis Corporation (NYSE:ENOV). Medical technology company Enovis continues taking share in its reconstructive business, while its prevention and recovery segment has rebounded nicely following COVID[1]induced weakness. This combination resulted in better-than-expected revenue growth and margin expansion during the quarter. We maintain our conviction in our thesis that Enovis can capitalize on its continuous improvement-focused business system to drive above-market organic growth and margin expansion."
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Enovis Corporation (NYSE:ENOV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Enovis Corporation (NYSE:ENOV) at the end of second quarter which was 31 in the previous quarter.
We discussed Enovis Corporation (NYSE:ENOV) in another article and shared the list of The London Company Small Cap Strategy's views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
