Needham & Company LLC Cuts Enovis (NYSE:ENOV) Price Target to $64.00

Enovis (NYSE:ENOV) had its target price trimmed by Needham & Company LLC from $65.00 to $64.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Enovis Trading Up 1.4 %

NYSE:ENOV opened at $38.67 on Thursday. Enovis has a 1 year low of $37.60 and a 1 year high of $63.96. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -17.66 and a beta of 1.94. The business has a fifty day moving average of $44.72 and a 200-day moving average of $44.27. 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 released its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company had revenue of $560.98 million during the quarter, compared to analysts’ expectations of $555.14 million. Equities analysts predict that Enovis will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ENOV. Raymond James & Associates grew its stake in shares of Enovis by 1,076.7% in the third quarter. Raymond James & Associates now owns 56,692 shares of the company’s stock worth $2,441,000 after purchasing an additional 51,874 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Enovis by 9.9% in the third quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock valued at $667,000 after buying an additional 1,400 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis in the third quarter valued at $55,000. State of Alaska Department of Revenue lifted its holdings in shares of Enovis by 20.8% in the third quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock valued at $279,000 after buying an additional 1,115 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Enovis by 29.1% in the third quarter. US Bancorp DE now owns 17,962 shares of the company’s stock valued at $773,000 after buying an additional 4,050 shares during the period. 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.