Evercore ISI Trims Enovis (NYSE:ENOV) Target Price to $62.00

Enovis (NYSE:ENOV) had its price target dropped by stock analysts at Evercore ISI from $70.00 to $62.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 39.58% from the company’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of Enovis in a report on Thursday, June 13th. They set a “neutral” rating and a $53.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Enovis in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.44.

Enovis Stock Performance

Shares of ENOV stock opened at $44.42 on Tuesday. The firm has a 50-day moving average of $48.92 and a 200-day moving average of $55.56. The company has a market cap of $2.44 billion, a P/E ratio of -29.61 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. Enovis has a one year low of $43.04 and a one year high of $66.14.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The business had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts forecast that Enovis will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in shares of Enovis by 907.7% in the fourth quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock valued at $31,339,000 after acquiring an additional 503,913 shares during the period. Channing Capital Management LLC boosted its position in shares of Enovis by 26.6% in the fourth quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock valued at $88,983,000 after acquiring an additional 334,154 shares during the period. UBS Group AG boosted its position in shares of Enovis by 1,060.8% in the fourth quarter. UBS Group AG now owns 333,510 shares of the company’s stock valued at $18,683,000 after acquiring an additional 304,779 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Enovis by 12.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,879,425 shares of the company’s stock valued at $105,920,000 after acquiring an additional 210,358 shares during the period. Finally, Boston Partners boosted its position in shares of Enovis by 206.5% in the first quarter. Boston Partners now owns 295,969 shares of the company’s stock valued at $18,455,000 after acquiring an additional 199,411 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.