Is Enovis Corporation (ENOV) a Multibagger Stock?

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bernzott Capital Advisors 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 July 20, 2023, Enovis Corporation (NYSE:ENOV) stock closed at $65.50 per share. One-month return of Enovis Corporation (NYSE:ENOV) was 9.42%, and its shares gained 13.50% of their value over the last 52 weeks. Enovis Corporation (NYSE:ENOV) has a market capitalization of $3.585 billion.

Bernzott Capital Advisors made the following comment about Enovis Corporation (NYSE:ENOV) in its second quarter 2023 investor letter:

“Enovis Corporation (NYSE:ENOV): Enovis is a medical technology company that should see steady margin improvement through a shift to the higher margin, faster growing Reconstructive segment in addition to cost reduction from easing inflationary pressures. New product introductions and attractive exposure to ambulatory surgery centers should drive above-market growth. Additional bolt-on M&A should be supported by their strong balance sheet and proven business processes.”

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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, 31 hedge fund portfolios held Enovis Corporation (NYSE:ENOV) at the end of first quarter which was 32 in the previous quarter.

We discussed Enovis Corporation (NYSE:ENOV) in another article and shared The London Company Small Cap Strategy’s views on the compnay. 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.