Enovis (NYSE:ENOV) Reaches New 1-Year Low – What’s Next?

Shares of Enovis Co. (NYSE:ENOV) reached a new 52-week low during trading on Thursday . The stock traded as low as $34.44 and last traded at $37.00, with a volume of 1324867 shares changing hands. The stock had previously closed at $37.18.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of Enovis in a research note on Wednesday.

Enovis Trading Down 0.5 %

The business has a 50-day moving average of $41.48 and a 200 day moving average of $43.23. The stock has a market cap of $2.11 billion, a PE ratio of -16.89 and a beta of 2.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business 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%. Equities research analysts predict that Enovis Co. will post 2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in Enovis in the fourth quarter valued at $29,000. Quadrant Capital Group LLC grew its holdings in Enovis by 53.0% in the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. UMB Bank n.a. increased its stake in shares of Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Enovis by 54.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after acquiring an additional 300 shares during the period. Finally, Quarry LP boosted its position in shares of Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.