Analysts Set Enovis Co. (NYSE:ENOV) Target Price at $67.00

Enovis Co. (NYSE:ENOV) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $67.00.

A number of analysts have recently weighed in on ENOV shares. JPMorgan Chase & Co. lowered their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their price target on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Enovis Stock Performance

Shares of Enovis stock opened at $42.43 on Friday. Enovis has a one year low of $38.27 and a one year high of $65.03. The company has a market capitalization of $2.37 billion, a PE ratio of -25.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. The company has a 50-day simple moving average of $42.33 and a two-hundred day simple moving average of $46.04.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $525.99 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. Enovis’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Research analysts expect that Enovis will post 2.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

A number of institutional investors have recently bought and sold shares of the business. River Road Asset Management LLC purchased a new stake in shares of Enovis in the 3rd quarter valued at $51,341,000. American Century Companies Inc. grew its position in Enovis by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after purchasing an additional 665,208 shares during the period. Magnetar Financial LLC raised its stake in shares of Enovis by 66.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after buying an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Enovis by 14.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock valued at $125,929,000 after buying an additional 352,116 shares during the period. Finally, Boston Partners boosted its stake in shares of Enovis by 206.5% in the first quarter. Boston Partners now owns 295,969 shares of the company’s stock worth $18,455,000 after buying an additional 199,411 shares during the last quarter. 98.45% of the stock is 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.