Durable Capital Partners Exits Entire Enovis (ENOV) Stake

TL;DR

**Durable Capital Partners dumped all its Enovis shares, signaling a potential red flag!**

AI Summary

Durable Capital Partners LP, an investment firm based in Bethesda, MD, filed an amendment to its Schedule 13G on February 12, 2024, indicating a significant change in its holdings of Enovis Corporation (NYSE: ENOV) common stock as of December 31, 2023. The filing shows Durable Capital Partners LP now holds 0 shares of Enovis, a substantial decrease from its previous reported ownership. This matters to investors because a major institutional investor has completely exited its position in Enovis, which could signal a loss of confidence in the company's future prospects.

Why It Matters

This complete divestment by a large institutional investor like Durable Capital Partners LP could be interpreted as a bearish signal, potentially influencing other investors' decisions regarding Enovis stock.

Risk Assessment

Risk Level: medium — The complete exit of a significant institutional investor can create uncertainty and potentially lead to downward pressure on the stock price.

Analyst Insight

A smart investor would investigate the reasons behind Durable Capital Partners LP's complete divestment from Enovis Corporation and consider if this signals underlying issues before making any investment decisions.

Key Numbers

• 0 — Sole Voting Power (Durable Capital Partners LP's current sole voting power in Enovis Corporation, indicating no shares held)
• 194014502 — CUSIP Number (Identifies Enovis Corporation's Common Stock)
• 20231231 — Date of Event (The date as of which the reported ownership change occurred)
• 20240212 — Filing Date (The date the SC 13G/A amendment was filed with the SEC)

Key Players & Entities

• Durable Capital Partners LP (company) — the investment firm that filed the SC 13G/A, reporting 0 shares of Enovis Corporation
• Enovis Corporation (company) — the subject company whose common stock is being reported on, with CUSIP 194014502
• Delaware (company) — state of organization for Durable Capital Partners LP
• Bethesda, MD (company) — business address for Durable Capital Partners LP
• Wilmington, DE (company) — business address for Enovis Corporation

Forward-Looking Statements

• Enovis Corporation's stock price may experience downward pressure in the short term. (Enovis Corporation) — medium confidence, target: 3 months
• Other institutional investors might re-evaluate their positions in Enovis Corporation. (institutional investors) — medium confidence, target: 6 months

FAQ

Key Financial Figures

• $0.001 — tion (Name of Issuer) Common Stock, $0.001 per share (Title of Class of Securiti

Filing Documents

• enovis_sc13ga-123123.htm (SC 13G/A) — 61KB
• 0001999371-24-001946.txt ( ) — 63KB

(b). Address

Item 1(b). Address of Issuer’s Principal Executive Offices : 2711 Centerville Road, Suite 400 Wilmington, DE 19808

(a). Names

Item 2(a). Names of Person Filing : The name of the person filing this report is: Durable Capital Partners LP (the “Reporting Person”)

(b). Address

Item 2(b). Address of Principal Business Office or, if None, Residence : The address of the principal business office of the Reporting Person is: 4747 Bethesda Avenue, Suite 1002 Bethesda, Maryland 20814

(c). Citizenship

Item 2(c). Citizenship or Place of Organization : The Reporting Person is a limited partnership organized under the laws of the State of Delaware.

(d). Title

Item 2(d). Title of Class of Securities : Common stock, $0.001 per share (“Common Stock”)

(e). CUSIP

Item 2(e). CUSIP Number : 194014502

If

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) A non-U.S. institution that is the functional equivalent of any of the institutions listed in § 240.13d-1 (b)(1)(ii)(A) through (I), so long as the non-U.S. institution is subject to a regulatory scheme that is substantially comparable to the regulatory scheme applicable to the equivalent U.S. institution. (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K).

Ownership

Item 4. Ownership . The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The Reporting Person, as the investment adviser to Durable Capital Master Fund LP, has sole power to direct the vote and disposition of Common Stock (the “Shares”). Durable Capital Partners GP LLC (“Durable GP”) is the general partner of the Reporting Person, and Henry Ellenbogen is the chief investment officer of the Reporting Person and the managing member of Durable GP.

Ownership

Item 5. Ownership of Five Percent or Less of a Class . If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership

Item 6. Ownership of More than Five Percent on Behalf of Another Person . See disclosure of relationships among parties under Item 4. The economic benefits of the Shares are shared based on agreements among the parties.

Identification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person . See control and Shares holding disclosure in Item 4.

Identification

Item 8. Identification and Classification of Members of the Group . Inapplicable.

Notice

Item 9. Notice of Dissolution of Group . Inapplicable.

Certification

Item 10. Certification . By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this Date: February 12, 2024 DURABLE CAPITAL PARTNERS LP By: /s/ Julie Jack Name: Julie Jack Title: Authorized Person

View Full Filing

View this SC 13G/A filing on SEC EDGAR