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

Enovis Co. (NYSE:ENOV) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $67.00.

Several equities research analysts have recently issued reports on the company. Evercore ISI decreased their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. Finally, JMP Securities started coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new stake in shares of Enovis in the 2nd quarter worth about $44,000. DekaBank Deutsche Girozentrale bought a new position in Enovis in the third quarter worth about $55,000. Innealta Capital LLC purchased a new stake in Enovis in the second quarter worth about $65,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Enovis by 28.1% in the second 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 during the period. Finally, FMR LLC boosted its position in Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after acquiring an additional 484 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Stock Down 0.6 %

ENOV opened at $45.26 on Wednesday. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The firm has a market capitalization of $2.53 billion, a P/E ratio of -20.67 and a beta of 1.91. The company’s 50-day moving average is $42.54 and its 200 day moving average is $45.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.62 by $0.11. The firm had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. Research analysts expect that Enovis will post 2.79 earnings per share for the current fiscal year.

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.