Enovis Co. (NYSE:ENOV) Given Average Rating of “Moderate Buy” by Analysts

Enovis Co. (NYSE:ENOV) has received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $69.13.

ENOV has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reduced their price objective on Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their target price on Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd.

Enovis Stock Performance

Shares of ENOV stock opened at $43.11 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $45.03 and a two-hundred day moving average of $51.40. The company has a market cap of $2.36 billion, a P/E ratio of -28.74 and a beta of 1.92. Enovis has a 52 week low of $39.98 and a 52 week high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $525.99 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. As a group, analysts anticipate that Enovis will post 2.7 EPS for the current year.

Institutional Trading of Enovis

Several institutional investors have recently modified their holdings of ENOV. Dimensional Fund Advisors LP lifted its holdings in Enovis by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,193,699 shares of the company’s stock valued at $178,912,000 after acquiring an additional 117,209 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Enovis by 14.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after purchasing an additional 352,116 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Enovis by 5.5% during the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after purchasing an additional 103,027 shares during the last quarter. 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 buying an additional 665,208 shares in the last quarter. Finally, Magnetar Financial LLC grew its position in Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after buying an additional 442,051 shares during the last quarter. Institutional investors and hedge funds 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.