Needham & Company LLC Reaffirms Buy Rating for Enovis (NYSE:ENOV)

Enovis (NYSE:ENOV)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $64.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 78.05% from the company’s current price.

Enovis Stock Performance

Shares of Enovis stock traded down $1.24 during trading on Wednesday, hitting $35.95. 561,367 shares of the stock were exchanged, compared to its average volume of 706,612. The stock has a market cap of $2.05 billion, a PE ratio of -16.38 and a beta of 2.05. The stock’s fifty day moving average is $41.68 and its 200 day moving average is $43.27. Enovis has a 12 month low of $34.45 and a 12 month high of $62.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $560.98 million for the quarter, compared to analyst estimates of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. As a group, sell-side analysts anticipate that Enovis will post 2.79 EPS for the current year.

Institutional Investors Weigh In On Enovis

Several institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Enovis during the 4th quarter worth about $29,000. Quadrant Capital Group LLC lifted its position in Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. UMB Bank n.a. boosted its stake in Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Enovis by 54.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Finally, Quarry LP raised its stake in shares of Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.