Enovis (NYSE:ENOV) Coverage Initiated by Analysts at JMP Securities

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

ENOV has been the topic of several other research reports. Needham & Company LLC cut their price target on Enovis from $82.00 to $65.00 and set a buy rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI cut their price target on Enovis from $62.00 to $58.00 and set an outperform rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $67.89.

Enovis Stock Down 2.2 %

ENOV stock opened at $39.93 on Thursday. Enovis has a fifty-two week low of $39.76 and a fifty-two week high of $65.03. The business’s 50 day moving average price is $44.03 and its two-hundred day moving average price is $48.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -26.62 and a beta of 1.91.

Enovis (NYSE:ENOV) last posted its 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. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm had revenue of $525.20 million for the quarter, compared to the consensus estimate of $525.99 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, analysts forecast that Enovis will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in shares of Enovis during the 1st quarter valued at $34,000. Ridgewood Investments LLC bought a new position in shares of Enovis during the 2nd quarter valued at $44,000. GAMMA Investing LLC lifted its holdings in shares of Enovis by 19.9% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after buying an additional 180 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Enovis by 56.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,320 shares of the company’s stock valued at $83,000 after buying an additional 474 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Enovis during the 2nd quarter valued at $65,000. 98.45% of the stock is owned by 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.