Enovis (NYSE:ENOV) Earns “Buy” Rating from Needham & Company LLC

Enovis (NYSE:ENOV)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $65.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 40.03% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI cut their price target on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Trading Down 3.0 %

ENOV stock traded down $1.44 during trading on Thursday, reaching $46.42. The company had a trading volume of 704,357 shares, compared to its average volume of 584,318. Enovis has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a market cap of $2.59 billion, a P/E ratio of -27.96 and a beta of 1.91. The business has a 50 day moving average of $42.23 and a 200 day moving average of $45.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. During the same period in the prior year, the firm earned $0.56 earnings per share. Enovis’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts forecast that Enovis will post 2.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC bought a new stake in shares of Enovis during the 2nd quarter valued at $44,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Enovis in the 3rd quarter worth $55,000. Innealta Capital LLC purchased a new position in shares of Enovis in the 2nd quarter worth $65,000. Benjamin F. Edwards & Company Inc. boosted its stake 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. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Enovis during the 1st quarter worth about $226,000. Hedge funds and other institutional investors 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.