Needham & Company LLC Reiterates Buy Rating for Enovis (NYSE:ENOV)

Needham & Company LLC reiterated their buy rating on shares of Enovis (NYSE:ENOV) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $64.00 target price on the stock.

Enovis Stock Performance

Shares of ENOV opened at $32.52 on Wednesday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -14.85 and a beta of 2.05. The company’s fifty day moving average is $40.90 and its 200-day moving average is $43.09. 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 has a 12 month low of $31.00 and a 12 month high of $62.79.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $560.98 million for the quarter, compared to analyst estimates of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. Equities analysts expect that Enovis will post 2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in Enovis by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 52,236 shares of the company’s stock valued at $2,292,000 after buying an additional 350 shares during the last quarter. McIlrath & Eck LLC bought a new position in shares of Enovis in the fourth quarter valued at $152,000. CSS LLC IL acquired a new position in Enovis during the fourth quarter worth $434,000. Paradigm Capital Management Inc. NY lifted its stake in Enovis by 2,566.0% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company’s stock valued at $23,397,000 after acquiring an additional 513,200 shares during the last quarter. Finally, Woodline Partners LP grew its position in shares of Enovis by 64.2% in the 4th quarter. Woodline Partners LP now owns 195,408 shares of the company’s stock valued at $8,575,000 after acquiring an additional 76,408 shares during the period. 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.