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

Enovis Co. (NYSE:ENOV) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $67.00.

A number of research analysts recently weighed in on ENOV shares. Evercore ISI reduced their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. JMP Securities started coverage on Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Enovis in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Enovis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC purchased a new position in shares of Enovis during the second quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale bought a new stake in Enovis in the 3rd quarter worth approximately $55,000. Innealta Capital LLC purchased a new stake in Enovis during the 2nd quarter valued at $65,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after buying an additional 371 shares during the period. Finally, FMR LLC boosted its stake in shares of Enovis by 20.5% in the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after buying an additional 484 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Trading Down 1.7 %

NYSE:ENOV opened at $46.14 on Friday. The company has a 50-day moving average price of $44.26 and a 200-day moving average price of $44.62. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -21.07 and a beta of 1.94. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. 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 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Equities analysts predict that Enovis will post 2.79 EPS 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.