JMP Securities Begins Coverage on Enovis (NYSE:ENOV)

JMP Securities started coverage on shares of Enovis (NYSE:ENOV) in a report issued on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $62.00 price target on the stock.

A number of other equities analysts have also commented on the stock. 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 report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Enovis from $62.00 to $58.00 and set an outperform rating on the stock in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enovis from $53.00 to $50.00 and set a neutral rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $67.89.

Enovis Stock Up 1.8 %

ENOV stock opened at $40.69 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.23 billion, a PE ratio of -27.13 and a beta of 1.91. Enovis has a 1 year low of $39.76 and a 1 year high of $65.03. The company has a fifty day simple moving average of $43.88 and a 200 day simple moving average of $48.66.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC acquired a new stake in Enovis during the first quarter worth about $34,000. Ridgewood Investments LLC acquired a new stake in shares of Enovis during the 2nd quarter worth approximately $44,000. Innealta Capital LLC bought a new stake in shares of Enovis during the second quarter valued at approximately $65,000. GAMMA Investing LLC raised its stake in shares of Enovis by 19.9% in the first quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after purchasing an additional 180 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after purchasing an additional 371 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.