Enovis Co. (NYSE:ENOV) Receives $67.00 Consensus PT from Brokerages

Enovis Co. (NYSE:ENOV) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $67.00.

Several brokerages recently commented on ENOV. JMP Securities started coverage on Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective for the company. 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. JPMorgan Chase & Co. lowered their price objective on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI cut their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st.

Enovis Price Performance

ENOV opened at $46.66 on Wednesday. The company’s 50-day simple moving average is $42.63 and its two-hundred day simple moving average is $45.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The stock has a market capitalization of $2.61 billion, a P/E ratio of -21.13 and a beta of 1.91. Enovis has a 52-week low of $38.27 and a 52-week high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share 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 company had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, analysts predict that Enovis will post 2.79 EPS for the current year.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently modified their holdings of ENOV. Diamond Hill Capital Management Inc. grew its position in shares of Enovis by 7.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock worth $129,352,000 after purchasing an additional 218,660 shares in the last quarter. Royce & Associates LP grew its holdings in Enovis by 16.8% during the 3rd quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock valued at $103,479,000 after buying an additional 346,317 shares in the last quarter. State Street Corp raised its position in shares of Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock valued at $70,913,000 after buying an additional 68,190 shares during the last quarter. American Century Companies Inc. raised its position in shares of Enovis by 78.6% during the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock valued at $68,337,000 after buying an additional 665,208 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new stake in Enovis in the 3rd quarter worth $51,341,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.