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

Enovis Co. (NYSE:ENOV) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $67.00.

Several analysts have recently weighed in on ENOV shares. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective for the company. Evercore ISI reduced their price target on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Enovis in a report on Thursday, November 7th.

Enovis Stock Up 2.4 %

Enovis stock opened at $45.84 on Thursday. The company has a market capitalization of $2.56 billion, a P/E ratio of -20.93 and a beta of 1.94. The firm’s fifty day simple moving average is $45.62 and its 200-day simple moving average is $44.31. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03. 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 (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. During the same quarter last year, the company posted $0.56 earnings per share. Enovis’s quarterly revenue was up 21.0% on a year-over-year basis. Sell-side analysts forecast that Enovis will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its position in shares of Enovis by 18.5% in the second quarter. Victory Capital Management Inc. now owns 28,747 shares of the company’s stock valued at $1,299,000 after acquiring an additional 4,496 shares during the period. Arizona State Retirement System lifted its position in Enovis by 13.7% in the second quarter. Arizona State Retirement System now owns 15,352 shares of the company’s stock valued at $694,000 after purchasing an additional 1,849 shares during the last quarter. American Century Companies Inc. boosted its position in Enovis by 78.6% during 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 period. Oppenheimer Asset Management Inc. grew its stake in shares of Enovis by 38.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,876 shares of the company’s stock worth $446,000 after purchasing an additional 2,731 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Enovis by 43.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 268,353 shares of the company’s stock worth $12,130,000 after buying an additional 81,294 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.