Enovis Co. (NYSE:ENOV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Enovis Co. (NYSE:ENOV) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $67.00.

ENOV has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Needham & Company LLC lowered their target price on Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, JMP Securities started coverage on Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock.

Enovis Stock Performance

NYSE ENOV opened at $39.99 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03. The business has a 50 day simple moving average of $42.58 and a two-hundred day simple moving average of $46.56. The stock has a market capitalization of $2.19 billion, a PE ratio of -26.66 and a beta of 1.91.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. Enovis’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts predict that Enovis will post 2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Enovis

A number of hedge funds have recently made changes to their positions in the stock. Tributary Capital Management LLC raised its holdings in Enovis by 15.6% in the first quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock worth $21,131,000 after purchasing an additional 45,745 shares in the last quarter. State of Michigan Retirement System lifted its position in Enovis by 2.5% during the first quarter. State of Michigan Retirement System now owns 12,202 shares of the company’s stock valued at $762,000 after acquiring an additional 300 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Enovis by 25.6% in the first quarter. Azzad Asset Management Inc. ADV now owns 12,380 shares of the company’s stock valued at $773,000 after acquiring an additional 2,521 shares in the last quarter. SeaBridge Investment Advisors LLC grew its holdings in Enovis by 165.6% in the first quarter. SeaBridge Investment Advisors LLC now owns 22,232 shares of the company’s stock worth $1,388,000 after purchasing an additional 13,861 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Enovis by 18.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock worth $305,000 after purchasing an additional 765 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.