Needham & Company LLC Lowers Enovis (NYSE:ENOV) Price Target to $64.00

Enovis (NYSE:ENOV) had its target price lowered by analysts at Needham & Company LLC from $65.00 to $64.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 65.51% from the company’s previous close.

Enovis Stock Performance

Shares of Enovis stock opened at $38.67 on Thursday. The business has a 50 day moving average price of $44.81 and a 200-day moving average price of $44.29. Enovis has a 52 week low of $37.60 and a 52 week high of $63.96. The company has a market cap of $2.20 billion, a PE ratio of -17.66 and a beta of 1.94. 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 (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $560.98 million for the quarter, compared to the consensus estimate of $555.14 million. Equities analysts anticipate that Enovis will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Several hedge funds have recently modified their holdings of ENOV. McIlrath & Eck LLC purchased a new stake in shares of Enovis during the fourth quarter valued at approximately $152,000. CSS LLC IL bought a new position in Enovis in the 4th quarter valued at $434,000. Paradigm Capital Management Inc. NY increased its position in shares of Enovis by 2,566.0% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company’s stock valued at $23,397,000 after purchasing an additional 513,200 shares during the last quarter. Woodline Partners LP raised its stake in shares of Enovis by 64.2% during the 4th quarter. Woodline Partners LP now owns 195,408 shares of the company’s stock worth $8,575,000 after purchasing an additional 76,408 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Enovis by 231.9% in the 4th quarter. Squarepoint Ops LLC now owns 157,006 shares of the company’s stock worth $6,889,000 after buying an additional 109,707 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.