Enovis Co. (NYSE:ENOV) Receives Average Rating of “Moderate Buy” from Brokerages

Enovis Co. (NYSE:ENOV) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. One investment 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 brokerages that have issued a report on the stock in the last year is $67.00.

A number of equities analysts have weighed in on the stock. JMP Securities assumed coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock. Evercore ISI reduced their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Enovis in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Enovis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in Enovis by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock valued at $305,000 after purchasing an additional 765 shares in the last quarter. US Bancorp DE grew its stake in shares of Enovis by 3.5% during the first quarter. US Bancorp DE now owns 13,043 shares of the company’s stock valued at $815,000 after acquiring an additional 447 shares in the last quarter. Pitcairn Co. increased its position in shares of Enovis by 6.8% during the first quarter. Pitcairn Co. now owns 6,036 shares of the company’s stock worth $377,000 after acquiring an additional 386 shares during the last quarter. Keeley Teton Advisors LLC lifted its stake in shares of Enovis by 6.8% in the first quarter. Keeley Teton Advisors LLC now owns 6,936 shares of the company’s stock worth $433,000 after acquiring an additional 441 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Enovis by 10.9% in the first quarter. Magnetar Financial LLC now owns 662,752 shares of the company’s stock valued at $41,389,000 after purchasing an additional 65,319 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

Shares of NYSE:ENOV opened at $47.74 on Wednesday. The company has a market cap of $2.67 billion, a P/E ratio of -21.80 and a beta of 1.91. The business has a fifty day simple moving average of $42.81 and a 200-day simple moving average of $44.90. Enovis has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.62 by $0.11. The company had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. Equities research analysts forecast that Enovis will post 2.79 EPS 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.