Enovis (NYSE:ENOV) Sets New 52-Week Low After Analyst Downgrade

Shares of Enovis Co. (NYSE:ENOV) hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $65.00 to $64.00. Needham & Company LLC currently has a buy rating on the stock. Enovis traded as low as $38.17 and last traded at $38.25, with a volume of 725459 shares. The stock had previously closed at $40.00.

Institutional Investors Weigh In On Enovis

Hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Enovis during the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC lifted its position in shares of Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the period. UMB Bank n.a. lifted its position in shares of Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Enovis by 54.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock valued at $37,000 after acquiring an additional 300 shares during the period. Finally, Quarry LP lifted its position in shares of Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 749 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Performance

The stock’s 50-day moving average price is $44.90 and its 200-day moving average price is $44.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -17.79 and a beta of 1.94.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. As a group, equities research analysts expect that Enovis Co. will post 2.79 earnings per share for the current year.

Enovis Company Profile

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.