Enovis Co. (NYSE:ENOV) Receives $67.00 Average PT from Brokerages

Shares of Enovis Co. (NYSE:ENOV) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat 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 price target among brokerages that have issued a report on the stock in the last year is $67.00.

Several brokerages recently issued reports on ENOV. JMP Securities started coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Enovis in a research report on Thursday, November 7th. Finally, 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.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. River Road Asset Management LLC bought a new stake in shares of Enovis in the 3rd quarter worth $51,341,000. American Century Companies Inc. boosted its holdings in Enovis by 78.6% during the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after purchasing an additional 665,208 shares during the last quarter. Magnetar Financial LLC grew its position in Enovis by 66.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after purchasing an additional 442,051 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Enovis by 14.5% in the 2nd 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 last quarter. Finally, Royce & Associates LP lifted its position in shares of Enovis by 16.8% during the 3rd quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after buying an additional 346,317 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Enovis Stock Performance

ENOV stock opened at $42.49 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of -19.40 and a beta of 1.94. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $44.61 and a 200-day moving average price of $44.52. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03.

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

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.