Enovis (NYSE:ENOV) Given New $64.00 Price Target at Needham & Company LLC

Enovis (NYSE:ENOV) had its price objective cut by equities research analysts at Needham & Company LLC from $65.00 to $64.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 59.89% from the company’s previous close.

Enovis Price Performance

NYSE ENOV opened at $40.03 on Thursday. The firm’s fifty day simple moving average is $44.90 and its two-hundred day simple moving average is $44.34. The firm has a market capitalization of $2.28 billion, a P/E ratio of -18.28 and a beta of 1.94. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis has a 12-month low of $38.27 and a 12-month high of $63.96.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $555.14 million. Analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Enovis during the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC lifted its stake in shares of Enovis by 53.0% during the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the period. UMB Bank n.a. grew its holdings in shares of Enovis by 128.2% during the fourth quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after buying an additional 437 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Enovis by 54.5% in 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 raised its stake in Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 749 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.