Enovis (NYSE:ENOV) Earns Outperform Rating from Analysts at JMP Securities

Analysts at JMP Securities assumed coverage on shares of Enovis (NYSE:ENOV) in a report issued on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $62.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 51.81% from the company’s previous close.

Several other brokerages also recently weighed in on ENOV. Needham & Company LLC cut their target price on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI cut their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enovis presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.89.

Enovis Trading Down 1.5 %

Shares of NYSE ENOV opened at $40.84 on Thursday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -27.23 and a beta of 1.92. Enovis has a 12-month low of $39.98 and a 12-month high of $65.03. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $44.17 and its 200 day simple moving average is $48.92.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $525.20 million for 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 business’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Equities research analysts expect that Enovis will post 2.7 EPS for the current year.

Hedge Funds Weigh In On Enovis

Hedge funds have recently modified their holdings of the stock. Scout Investments Inc. acquired a new position in shares of Enovis in the 1st quarter worth $6,116,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Enovis by 88.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock worth $23,802,000 after acquiring an additional 179,276 shares during the last quarter. Tributary Capital Management LLC grew its holdings in shares of Enovis by 15.6% in the 1st quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock worth $21,131,000 after acquiring an additional 45,745 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Enovis by 175.5% in the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock worth $1,913,000 after acquiring an additional 21,760 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Enovis by 100.6% in the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after acquiring an additional 189,584 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.