Enovis Co. (NYSE:ENOV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Enovis Co. (NYSE:ENOV) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $67.00.

ENOV has been the subject of several research analyst reports. Evercore ISI decreased their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Enovis in a report on Thursday, November 7th. Finally, JMP Securities initiated coverage on shares of Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. River Road Asset Management LLC purchased a new stake in Enovis during the third quarter valued at $51,341,000. American Century Companies Inc. raised its position in shares of Enovis by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock valued at $68,337,000 after buying an additional 665,208 shares in the last quarter. Magnetar Financial LLC lifted its holdings in shares of Enovis by 66.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after acquiring an additional 442,051 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Enovis by 14.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after acquiring an additional 352,116 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Enovis by 16.8% during the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after acquiring an additional 346,317 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Stock Performance

ENOV opened at $43.12 on Friday. The firm has a market cap of $2.41 billion, a P/E ratio of -19.69 and a beta of 1.94. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03. The company has a 50 day simple moving average of $44.74 and a two-hundred day simple moving average of $44.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12.

Enovis (NYSE:ENOV) last issued its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The company had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. Enovis’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. Equities analysts forecast that Enovis will post 2.79 earnings per share for the current fiscal year.

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.