Enovis Co. (NYSE:ENOV) Given Average Rating of “Buy” by Analysts

Enovis Co. (NYSE:ENOV) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $75.43.

ENOV has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Stephens assumed coverage on shares of Enovis in a research report on Tuesday, February 13th. They set an “overweight” rating and a $72.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $82.00 target price on shares of Enovis in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENOV. Wells Fargo & Company MN increased its stake in shares of Enovis by 907.7% in the fourth quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock worth $31,339,000 after buying an additional 503,913 shares during the period. Channing Capital Management LLC boosted its holdings in shares of Enovis by 26.6% during the 4th quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock valued at $88,983,000 after buying an additional 334,154 shares in the last quarter. UBS Group AG boosted its holdings in shares of Enovis by 1,060.8% during the 4th quarter. UBS Group AG now owns 333,510 shares of the company’s stock valued at $18,683,000 after buying an additional 304,779 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Enovis by 116.2% during the 3rd quarter. Invesco Ltd. now owns 472,713 shares of the company’s stock valued at $24,926,000 after buying an additional 254,097 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Enovis by 12.6% during the 4th quarter. DAVENPORT & Co LLC now owns 1,879,425 shares of the company’s stock valued at $105,920,000 after buying an additional 210,358 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Price Performance

ENOV stock opened at $50.27 on Wednesday. The firm has a 50 day moving average of $55.18 and a 200-day moving average of $56.43. The company has a current ratio of 2.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. Enovis has a 12 month low of $43.04 and a 12 month high of $66.14. The firm has a market capitalization of $2.76 billion, a P/E ratio of -33.51 and a beta of 1.99.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company had revenue of $516.00 million during the quarter, compared to analyst estimates of $505.62 million. During the same period last year, the business earned $0.44 earnings per share. Enovis’s revenue was up 27.0% compared to the same quarter last year. As a group, sell-side analysts predict that Enovis will post 2.63 earnings per share for the current fiscal year.

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.