JPMorgan Chase & Co. Lowers Enovis (NYSE:ENOV) Price Target to $50.00

Enovis (NYSE:ENOV) had its price target lowered by JPMorgan Chase & Co. from $53.00 to $50.00 in a report issued on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC decreased their price target on Enovis from $82.00 to $65.00 and set a buy rating for the company in a research note on Thursday. Evercore ISI dropped their price target on Enovis from $70.00 to $62.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $69.13.

Enovis Stock Performance

ENOV traded down $0.15 during trading hours on Thursday, reaching $43.41. The company’s stock had a trading volume of 756,297 shares, compared to its average volume of 560,150. The company’s 50-day moving average is $45.41 and its 200-day moving average is $53.38. Enovis has a 52 week low of $39.98 and a 52 week high of $65.03. The firm has a market cap of $2.38 billion, a PE ratio of -28.94 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 2.10.

Enovis (NYSE:ENOV) last issued its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. On average, equities analysts forecast that Enovis will post 2.61 EPS for the current year.

Institutional Investors Weigh In On Enovis

A number of institutional investors have recently modified their holdings of the company. Channing Capital Management LLC increased its position in Enovis by 26.6% during the fourth quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after buying an additional 334,154 shares during the last quarter. Scout Investments Inc. bought a new stake in shares of Enovis in the 1st quarter worth approximately $6,116,000. Cross Staff Investments Inc bought a new position in Enovis during the fourth quarter valued at approximately $205,000. Lawson Kroeker Investment Management Inc. NE bought a new stake in Enovis during the fourth quarter worth about $7,013,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Enovis by 88.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock valued at $23,802,000 after purchasing an additional 179,276 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.