Enovis (NYSE:ENOV) Reaches New 1-Year Low – What’s Next?

Enovis Co. (NYSE:ENOV)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $34.44 and last traded at $37.00, with a volume of 1324867 shares traded. The stock had previously closed at $37.18.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Enovis in a research report on Wednesday.

Enovis Stock Down 3.8 %

The company has a 50-day moving average of $40.90 and a 200-day moving average of $43.09. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -14.85 and a beta of 2.05.

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

Institutional Investors Weigh In On Enovis

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Enovis by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 66,668 shares of the company’s stock valued at $2,870,000 after acquiring an additional 2,123 shares during the period. FMR LLC grew its stake in Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after purchasing an additional 484 shares during the last quarter. MetLife Investment Management LLC grew its stake in Enovis by 9.4% during the 3rd quarter. MetLife Investment Management LLC now owns 28,839 shares of the company’s stock valued at $1,242,000 after purchasing an additional 2,476 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Enovis by 34.9% in the third quarter. Benjamin Edwards Inc. now owns 15,595 shares of the company’s stock worth $671,000 after purchasing an additional 4,035 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Enovis during the third quarter worth about $326,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.