Enovis’ (ENOV) “Buy” Rating Reaffirmed at Needham & Company LLC

Enovis (NYSE:ENOV)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $64.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 100.03% from the stock’s current price.

Enovis Price Performance

Shares of NYSE:ENOV opened at $32.00 on Wednesday. Enovis has a one year low of $29.32 and a one year high of $60.61. The stock has a market cap of $1.82 billion, a PE ratio of -14.61 and a beta of 1.86. The business’s fifty day moving average price is $39.13 and its two-hundred day moving average price is $42.62. 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 posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $560.98 million during the quarter, compared to analysts’ expectations of $555.14 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. On average, analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC acquired a new position in Enovis in the fourth quarter valued at $3,494,000. Geode Capital Management LLC grew its holdings in Enovis by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 921,437 shares of the company’s stock valued at $39,678,000 after buying an additional 80,165 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. Jane Street Group LLC lifted its holdings in shares of Enovis by 247.6% during the 3rd quarter. Jane Street Group LLC now owns 106,684 shares of the company’s stock worth $4,593,000 after acquiring an additional 75,988 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Enovis by 19.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company’s stock worth $677,000 after acquiring an additional 2,518 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.