Enovis (NYSE:ENOV) Reaches New 12-Month Low – Time to Sell?

Enovis Co. (NYSE:ENOV) shares reached a new 52-week low on Thursday . The stock traded as low as $39.83 and last traded at $39.85, with a volume of 488553 shares traded. The stock had previously closed at $40.84.

Wall Street Analyst Weigh In

ENOV has been the subject of several research analyst reports. 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. 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. JMP Securities started coverage on Enovis in a report on Thursday. They issued an “outperform” rating and a $62.00 price target for the company. Finally, Needham & Company LLC dropped their price target on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.89.

Enovis Trading Down 2.2 %

The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.19 billion, a P/E ratio of -27.23 and a beta of 1.92. The business has a fifty day moving average price of $44.17 and a 200 day moving average price of $48.92.

Enovis (NYSE:ENOV) last released its earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $525.20 million for 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 business posted $0.61 EPS. On average, analysts expect that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Large investors have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Enovis by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock valued at $68,337,000 after buying an additional 665,208 shares during the last quarter. Magnetar Financial LLC increased its position in Enovis by 66.7% during the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after buying an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Enovis by 14.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock valued at $125,929,000 after buying an additional 352,116 shares during the period. Boston Partners lifted its position in shares of Enovis by 206.5% in the first quarter. Boston Partners now owns 295,969 shares of the company’s stock valued at $18,455,000 after buying an additional 199,411 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Enovis by 100.6% during the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after acquiring an additional 189,584 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.