Enovis (NYSE:ENOV) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Enovis (NYSE:ENOV) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $64.00 target price on the stock.

Enovis Stock Down 0.5 %

Enovis stock opened at $37.00 on Wednesday. Enovis has a fifty-two week low of $34.44 and a fifty-two week high of $62.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -16.89 and a beta of 2.05. The company’s 50 day simple moving average is $41.48 and its 200 day simple moving average is $43.23.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, topping 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 positive return on equity of 4.39% and a negative net margin of 5.95%. As a group, sell-side analysts anticipate that Enovis will post 2.79 EPS for the current year.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Confluence Investment Management LLC acquired a new stake in shares of Enovis in the 4th quarter valued at about $3,494,000. Geode Capital Management LLC boosted its position in Enovis by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 921,437 shares of the company’s stock worth $39,678,000 after acquiring an additional 80,165 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Enovis by 128.2% in the fourth quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the last quarter. Jane Street Group LLC boosted its holdings in Enovis by 247.6% during the third quarter. Jane Street Group LLC now owns 106,684 shares of the company’s stock worth $4,593,000 after purchasing an additional 75,988 shares during the last quarter. Finally, FMR LLC increased its stake in Enovis by 20.5% in the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after buying an additional 484 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.