Enovis (NYSE:ENOV) Trading Up 5.5% – Should You Buy?

Enovis Co. (NYSE:ENOV) shares shot up 5.5% during trading on Wednesday . The stock traded as high as $42.72 and last traded at $42.72. 287,648 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 564,329 shares. The stock had previously closed at $40.51.

Wall Street Analysts Forecast Growth

ENOV has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price target on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JMP Securities began coverage on Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. Evercore ISI cut their price target on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Finally, 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Enovis has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The business has a 50 day moving average of $42.43 and a 200 day moving average of $46.10. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -25.78 and a beta of 1.91.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $525.99 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities analysts anticipate that Enovis Co. will post 2.7 EPS for the current year.

Institutional Investors Weigh In On Enovis

Institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Enovis in the 1st quarter valued at $34,000. Ridgewood Investments LLC bought a new stake in Enovis during the 2nd quarter worth about $44,000. DekaBank Deutsche Girozentrale acquired a new stake in Enovis in the 3rd quarter valued at about $55,000. Innealta Capital LLC bought a new position in shares of Enovis in the second quarter worth about $65,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Enovis by 28.1% during the second 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 in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.