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

Shares of Enovis Co. (NYSE:ENOV) have been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $67.00.

ENOV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. JMP Securities assumed coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th.

Enovis Price Performance

Shares of ENOV stock opened at $47.74 on Wednesday. The firm has a fifty day moving average of $42.81 and a two-hundred day moving average of $44.90. The firm has a market cap of $2.67 billion, a P/E ratio of -21.80 and a beta of 1.91. Enovis has a 1-year low of $38.27 and a 1-year high of $65.03. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. The business had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share. As a group, research 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 and other institutional investors have recently modified their holdings of ENOV. Diamond Hill Capital Management Inc. lifted its position in Enovis by 7.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock valued at $129,352,000 after purchasing an additional 218,660 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Enovis by 16.8% during the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock valued at $103,479,000 after buying an additional 346,317 shares during the last quarter. State Street Corp boosted its position in shares of Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after buying an additional 68,190 shares during the period. American Century Companies Inc. grew its holdings in Enovis by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after buying an additional 665,208 shares in the last quarter. Finally, River Road Asset Management LLC acquired a new stake in Enovis in the 3rd quarter valued at approximately $51,341,000. 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.