Enovis (NYSE:ENOV) Price Target Lowered to $58.00 at Evercore ISI

Enovis (NYSE:ENOV) had its target price dropped by investment analysts at Evercore ISI from $62.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 39.02% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC decreased their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Enovis presently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

Enovis Trading Down 3.1 %

Shares of ENOV stock traded down $1.33 on Tuesday, hitting $41.72. 298,746 shares of the stock traded hands, compared to its average volume of 555,811. The firm’s 50-day moving average price is $44.37 and its two-hundred day moving average price is $49.10. Enovis has a twelve month low of $39.98 and a twelve month high of $65.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. The stock has a market capitalization of $2.29 billion, a PE ratio of -27.87 and a beta of 1.92.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $0.61 earnings per share. Enovis’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, analysts anticipate that Enovis will post 2.7 EPS for the current year.

Institutional Trading of Enovis

A number of large investors have recently made changes to their positions in ENOV. American Century Companies Inc. increased its stake in shares of 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 during the period. Magnetar Financial LLC increased its stake in Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after purchasing an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Enovis by 14.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock valued at $125,929,000 after purchasing an additional 352,116 shares during the last quarter. Boston Partners increased its stake in Enovis by 206.5% in the first quarter. Boston Partners now owns 295,969 shares of the company’s stock valued at $18,455,000 after purchasing an additional 199,411 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Enovis by 100.6% in the first quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock valued at $23,606,000 after purchasing an additional 189,584 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.