Enovis (NYSE:ENOV) Sets New 12-Month Low Following Analyst Downgrade

Enovis Co. (NYSE:ENOV)’s share price reached a new 52-week low during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $65.00 to $64.00. Needham & Company LLC currently has a buy rating on the stock. Enovis traded as low as $38.17 and last traded at $38.25, with a volume of 725459 shares traded. The stock had previously closed at $40.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in shares of Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the last quarter. Amalgamated Bank increased its position in Enovis by 1.0% during the 4th quarter. Amalgamated Bank now owns 25,887 shares of the company’s stock worth $1,136,000 after purchasing an additional 264 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in Enovis by 54.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Arizona State Retirement System increased its position in Enovis by 2.6% during the 4th quarter. Arizona State Retirement System now owns 16,208 shares of the company’s stock worth $711,000 after purchasing an additional 414 shares in the last quarter. Finally, Aigen Investment Management LP increased its position in Enovis by 5.1% during the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock worth $381,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Performance

The stock’s 50-day moving average is $44.81 and its 200-day moving average is $44.29. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -17.66 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 (NYSE:ENOV) last posted its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. On average, analysts expect that Enovis Co. 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.