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

Enovis Co. (NYSE:ENOV) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $67.00.

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Enovis in a report on Thursday, November 7th. JMP Securities assumed coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Evercore ISI lowered their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st.

Enovis Stock Up 2.4 %

ENOV stock opened at $45.84 on Thursday. 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 stock has a market capitalization of $2.56 billion, a P/E ratio of -20.93 and a beta of 1.94. The business has a fifty day moving average price of $45.62 and a 200-day moving average price of $44.31. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping 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 company had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. During the same period last year, the firm earned $0.56 EPS. Enovis’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts forecast that Enovis will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

A number of institutional investors and hedge funds have recently made changes to their positions in ENOV. DekaBank Deutsche Girozentrale purchased a new stake in Enovis in the 3rd quarter valued at approximately $55,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Enovis by 28.1% during the 2nd 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 period. FMR LLC raised its stake in shares of 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 acquiring an additional 484 shares during the period. Heritage Family Offices LLP acquired a new position in shares of Enovis during the third quarter worth about $206,000. Finally, XTX Topco Ltd purchased a new position in Enovis in the 3rd quarter worth approximately $217,000. 98.45% of the stock is 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.