Needham & Company LLC Has Lowered Expectations for Enovis (NYSE:ENOV) Stock Price

Enovis (NYSE:ENOV) had its price objective cut by research analysts at Needham & Company LLC from $65.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 65.51% from the stock’s current price.

Enovis Stock Performance

Shares of ENOV opened at $38.67 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The firm has a market cap of $2.20 billion, a PE ratio of -17.66 and a beta of 1.94. Enovis has a 1 year low of $37.60 and a 1 year high of $63.96. The stock’s fifty day moving average price is $44.81 and its two-hundred day moving average price is $44.29.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $560.98 million for the quarter, compared to analysts’ expectations of $555.14 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. On average, equities research analysts forecast that Enovis will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENOV. Vanguard Group Inc. boosted its holdings in shares of Enovis by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,486,130 shares of the company’s stock worth $240,731,000 after acquiring an additional 75,348 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Enovis by 7.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock worth $129,352,000 after purchasing an additional 218,660 shares during the period. DAVENPORT & Co LLC grew its holdings in Enovis by 6.0% during the 4th quarter. DAVENPORT & Co LLC now owns 2,782,341 shares of the company’s stock valued at $121,181,000 after buying an additional 157,216 shares in the last quarter. Royce & Associates LP increased its position in shares of Enovis by 2.8% during the fourth quarter. Royce & Associates LP now owns 2,470,576 shares of the company’s stock valued at $108,409,000 after buying an additional 66,891 shares during the period. Finally, State Street Corp lifted its holdings in shares of Enovis by 4.3% in the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after buying an additional 68,190 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.