Analysts Set Enovis Co. (NYSE:ENOV) PT at $67.00

Shares of Enovis Co. (NYSE:ENOV) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.00.

Several analysts have issued reports on ENOV shares. Evercore ISI cut their price target on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. JMP Securities initiated coverage on Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. River Road Asset Management LLC bought a new stake in Enovis during the 3rd quarter valued at about $51,341,000. American Century Companies Inc. grew its holdings 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 valued at $68,337,000 after buying an additional 665,208 shares during the last quarter. Magnetar Financial LLC increased its position in shares of Enovis by 66.7% during the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after acquiring an additional 442,051 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Enovis by 14.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after acquiring an additional 352,116 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Enovis by 16.8% in the 3rd quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock valued at $103,479,000 after acquiring an additional 346,317 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Stock Up 1.1 %

Shares of NYSE ENOV opened at $46.66 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $42.63 and a 200-day moving average of $45.04. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.13 and a beta of 1.91. Enovis has a 12 month low of $38.27 and a 12 month high of $65.03.

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

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.