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

Shares of Enovis Co. (NYSE:ENOV) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $69.13.

A number of research firms have recently weighed in on ENOV. Needham & Company LLC reduced their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their price target on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

Enovis Trading Up 0.5 %

Shares of ENOV stock opened at $43.29 on Friday. Enovis has a 52-week low of $39.98 and a 52-week high of $65.03. The company has a 50-day simple moving average of $44.91 and a two-hundred day simple moving average of $50.83. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -28.86 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26.

Enovis (NYSE:ENOV) last released its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $525.99 million. During the same period in the prior year, the firm earned $0.61 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. Research analysts anticipate that Enovis will post 2.7 EPS for the current fiscal year.

Institutional Trading of Enovis

Institutional investors and hedge funds have recently bought and sold shares of the company. Scout Investments Inc. purchased a new stake in Enovis in the 1st quarter worth approximately $6,116,000. Price T Rowe Associates Inc. MD lifted its stake in Enovis by 88.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock worth $23,802,000 after purchasing an additional 179,276 shares in the last quarter. UBS Group AG lifted its stake in Enovis by 1,060.8% in the 4th quarter. UBS Group AG now owns 333,510 shares of the company’s stock worth $18,683,000 after purchasing an additional 304,779 shares in the last quarter. Tributary Capital Management LLC raised its position in shares of Enovis by 15.6% during the 1st quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock valued at $21,131,000 after buying an additional 45,745 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Enovis by 175.5% during the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock valued at $1,913,000 after buying an additional 21,760 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.