Needham & Company LLC Reiterates Buy Rating for Enovis (NYSE:ENOV)

Enovis (NYSE:ENOV)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $64.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 78.05% from the stock’s previous close.

Enovis Stock Down 3.3 %

ENOV traded down $1.24 during trading on Wednesday, reaching $35.95. 561,367 shares of the stock traded hands, compared to its average volume of 706,612. The stock’s 50-day simple moving average is $41.68 and its two-hundred day simple moving average is $43.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis has a fifty-two week low of $34.45 and a fifty-two week high of $62.79. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -16.38 and a beta of 2.05.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $560.98 million for the quarter, compared to analyst estimates of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. As a group, equities research analysts expect that Enovis will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ENOV. Aster Capital Management DIFC Ltd acquired a new position in Enovis in the 4th quarter valued at $29,000. Quadrant Capital Group LLC lifted its position in shares of Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. UMB Bank n.a. increased its position in Enovis by 128.2% in the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $34,000 after buying an additional 437 shares during the period. Pinnacle Bancorp Inc. grew its stake in shares of Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after acquiring an additional 300 shares during the last quarter. Finally, Quarry LP increased its position in Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 749 shares during the period. 98.45% of the stock is owned by 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.