Enovis (NYSE:ENOV) Price Target Lowered to $58.00 at Evercore ISI

Enovis (NYSE:ENOV) had its price objective dropped by stock analysts at Evercore ISI from $62.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 39.02% from the company’s previous close.

A number of other research firms have also weighed in on ENOV. Needham & Company LLC lowered their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

Enovis Stock Performance

Shares of ENOV stock traded down $1.33 during trading hours on Tuesday, hitting $41.72. The stock had a trading volume of 298,746 shares, compared to its average volume of 555,811. The firm has a market capitalization of $2.29 billion, a PE ratio of -27.87 and a beta of 1.92. Enovis has a twelve month low of $39.98 and a twelve month high of $65.03. The stock’s 50 day moving average is $44.37 and its 200 day moving average is $49.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08.

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

Hedge Funds Weigh In On Enovis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Enovis by 19.9% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock worth $68,000 after purchasing an additional 180 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Enovis by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock worth $1,303,000 after buying an additional 220 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Enovis by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,202 shares of the company’s stock worth $762,000 after buying an additional 300 shares in the last quarter. Swiss National Bank boosted its position in shares of Enovis by 0.3% in the 1st quarter. Swiss National Bank now owns 97,000 shares of the company’s stock worth $6,058,000 after buying an additional 300 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares in the last quarter. 98.45% of the stock is 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.