Enovis (NYSE:ENOV) Reaches New 1-Year Low – Time to Sell?

Enovis Co. (NYSE:ENOV) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $29.30 and last traded at $29.62, with a volume of 1667031 shares trading hands. The stock had previously closed at $31.30.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ENOV shares. Needham & Company LLC dropped their price objective on Enovis from $64.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group dropped their price target on Enovis from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, JMP Securities cut their price objective on Enovis from $62.00 to $55.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enovis presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Enovis Trading Up 3.8%

The company has a market cap of $1.82 billion, a P/E ratio of -14.54 and a beta of 1.71. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $33.53 and a 200-day moving average price of $40.27.

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

Institutional Investors Weigh In On Enovis

Hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in Enovis during the fourth quarter worth approximately $29,000. Quadrant Capital Group LLC boosted its stake in shares of Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 536 shares during the last quarter. Quarry LP raised its stake in Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company’s stock valued at $39,000 after acquiring an additional 749 shares during the period. Finally, GAMMA Investing LLC raised its stake in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $45,000 after acquiring an additional 692 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.