Enovis (NYSE:ENOV) Given New $58.00 Price Target at Evercore ISI

Enovis (NYSE:ENOV) had its target price decreased by research analysts at Evercore ISI from $62.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 42.02% from the company’s previous close.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC dropped their price target on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.63.

Enovis Stock Down 1.5 %

Shares of Enovis stock opened at $40.84 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. Enovis has a 52-week low of $39.98 and a 52-week high of $65.03. The company has a market capitalization of $2.24 billion, a P/E ratio of -27.23 and a beta of 1.92. The company has a 50 day moving average of $44.27 and a 200 day moving average of $48.98.

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

Institutional Investors Weigh In On Enovis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Enovis by 5.2% in the 4th quarter. US Bancorp DE now owns 12,596 shares of the company’s stock valued at $706,000 after acquiring an additional 627 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Enovis by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock valued at $1,303,000 after buying an additional 220 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Enovis by 74.2% during the fourth quarter. Pinebridge Investments L.P. now owns 12,685 shares of the company’s stock worth $711,000 after buying an additional 5,405 shares during the period. First National Bank of Omaha grew its holdings in shares of Enovis by 13.3% during the fourth quarter. First National Bank of Omaha now owns 41,348 shares of the company’s stock worth $2,316,000 after buying an additional 4,847 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in Enovis by 175.5% in the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock valued at $1,913,000 after acquiring an additional 21,760 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.