Brokerages Set Enovis Co. (NYSE:ENOV) Target Price at $67.00

Shares of Enovis Co. (NYSE:ENOV) have received an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $67.00.

Several research firms have recently issued reports on ENOV. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Enovis in a research report on Thursday, November 7th. Evercore ISI lowered their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. JMP Securities began coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective 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.

Hedge Funds Weigh In On Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in ENOV. Diamond Hill Capital Management Inc. grew its position 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 valued at $129,352,000 after buying an additional 218,660 shares during the last quarter. Royce & Associates LP grew its position in Enovis by 16.8% during the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after buying an additional 346,317 shares during the period. State Street Corp grew its holdings in shares of Enovis by 4.3% in the 3rd quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after acquiring an additional 68,190 shares during the period. American Century Companies Inc. raised its stake in shares of Enovis by 78.6% during the 2nd 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 during the last quarter. Finally, River Road Asset Management LLC acquired a new stake in shares of Enovis in the third quarter valued at approximately $51,341,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

Shares of Enovis stock opened at $46.67 on Wednesday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.31 and a beta of 1.91. 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 business has a 50-day moving average of $42.70 and a 200 day moving average of $44.96. Enovis has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.62 by $0.11. The business had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, sell-side analysts forecast that Enovis will post 2.79 earnings per share for the current year.

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.