Enovis (NYSE:ENOV) Price Target Cut to $55.00 by Analysts at JMP Securities

Enovis (NYSE:ENOV) had its price target lowered by investment analysts at JMP Securities from $62.00 to $55.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 66.41% from the stock’s previous close.

Separately, Needham & Company LLC cut their price objective on shares of Enovis from $64.00 to $57.00 and set a “buy” rating for the company in a report on Friday.

Enovis Trading Down 0.1 %

Shares of NYSE:ENOV opened at $33.05 on Friday. The stock has a market cap of $1.89 billion, a PE ratio of -15.09 and a beta of 1.79. 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 $29.32 and a 12-month high of $53.84. The business has a 50 day moving average of $35.20 and a 200-day moving average of $41.56.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm had revenue of $558.83 million for the quarter, compared to analyst estimates of $558.80 million. During the same period in the prior year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Enovis will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in Enovis by 128.2% in the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after buying an additional 437 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in Enovis in the fourth quarter valued at approximately $437,000. Tributary Capital Management LLC raised its position in Enovis by 33.9% during the fourth quarter. Tributary Capital Management LLC now owns 566,089 shares of the company’s stock valued at $24,840,000 after purchasing an additional 143,258 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Enovis by 12.5% during the fourth quarter. Park Avenue Securities LLC now owns 11,988 shares of the company’s stock worth $526,000 after purchasing an additional 1,333 shares during the last quarter. 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.