Enovis (NYSE:ENOV) Given New $38.00 Price Target at Needham & Company LLC

Enovis (NYSE:ENOV) had its price target increased by Needham & Company LLC from $34.00 to $38.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on ENOV. BTIG Research raised their price target on shares of Enovis from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Enovis from $39.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, September 2nd. BMO Capital Markets set a $27.00 target price on shares of Enovis in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of Enovis from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Enovis in a report on Wednesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Enovis Stock Up 16.7%

Shares of NYSE ENOV opened at $28.50 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.64 billion, a PE ratio of -1.48 and a beta of 1.31. The stock’s fifty day simple moving average is $19.86 and its two-hundred day simple moving average is $23.07. Enovis has a 12-month low of $16.70 and a 12-month high of $32.41.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. The business had revenue of $558.73 million for the quarter, compared to the consensus estimate of $557.12 million. Enovis had a positive return on equity of 12.03% and a negative net margin of 47.96%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. As a group, analysts expect that Enovis will post 3.15 EPS for the current fiscal year.

Insider Activity

In other Enovis news, CEO Damien Mcdonald purchased 13,035 shares of the stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $19.15 per share, with a total value of $249,620.25. Following the completion of the acquisition, the chief executive officer owned 247,077 shares in the company, valued at $4,731,524.55. The trade was a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Oliver Engert purchased 2,660 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $18.80 per share, for a total transaction of $50,008.00. Following the purchase, the insider directly owned 63,898 shares of the company’s stock, valued at approximately $1,201,282.40. The trade was a 4.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 23,293 shares of company stock valued at $449,599. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in shares of Enovis in the 2nd quarter valued at $11,502,000. First National Bank of Omaha purchased a new position in Enovis in the 2nd quarter worth $1,250,000. Legal & General Group Plc purchased a new position in Enovis in the 2nd quarter worth $2,753,000. Jupiter Topco LLC acquired a new stake in Enovis during the 2nd quarter worth about $2,346,000. Finally, Man Group plc acquired a new stake in Enovis during the 2nd quarter worth about $8,711,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis News Roundup

Here are the key news stories impacting Enovis this week:

• Positive Sentiment: Enovis reported adjusted earnings of $0.88 per share, beating analyst estimates of roughly $0.76–$0.77 and rising from $0.75 a year earlier. Revenue of $558.7 million also edged past forecasts. Enovis Climbs on Swing to 3Q Profit, Higher Sales
• Positive Sentiment: The company announced a $200 million share-repurchase program, which may support per-share results and signal management confidence. Enovis announces $200 million equity buyback
• Positive Sentiment: Analysts raised their targets and maintained Buy ratings: Needham lifted its target to $38 from $34, while BTIG raised its target to $42 from $36. These revisions reflect a more favorable outlook after the quarterly results. Read More. · Read More.
• Neutral Sentiment: Revenue grew just 1.8% year over year and was close to expectations, so the earnings beat—not strong sales acceleration—appears to be the main results catalyst.

About Enovis

Enovis Corporation (NYSE: ENOV) is a medical technology company that develops, manufactures and distributes products designed to improve patient recovery, mobility and quality of life. Its portfolio serves orthopedic, sports medicine, physical therapy and rehabilitation markets, as well as other areas of musculoskeletal care.

The company’s products include orthopedic implants and surgical technologies, braces and supports, cold and compression therapy systems, electrotherapy and rehabilitation equipment, and other solutions used by hospitals, surgeons, physical therapists, athletic trainers and patients.