Enovis Co. (NYSE:ENOV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Enovis Co. (NYSE:ENOV) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $67.00.

ENOV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target 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. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. Evercore ISI lowered 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. Finally, JMP Securities initiated coverage on Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock.

Enovis Stock Performance

Shares of Enovis stock opened at $45.26 on Wednesday. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -20.67 and a beta of 1.91. Enovis has a twelve month low of $38.27 and a twelve month high of $65.03. The company’s fifty day moving average is $42.54 and its 200 day moving average is $45.04. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last released its quarterly 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 positive return on equity of 4.39% and a negative net margin of 5.95%. The firm had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue was up 21.0% on a year-over-year basis. Sell-side analysts forecast that Enovis will post 2.79 EPS for the current year.

Institutional Trading of Enovis

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

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.