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

Needham & Company LLC reiterated their buy rating on shares of Enovis (NYSE:ENOV) in a research report released on Friday, Benzinga reports. Needham & Company LLC currently has a $82.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. UBS Group began coverage on shares of Enovis in a research note on Monday, January 22nd. They set a buy rating and a $75.00 price objective for the company. Stephens initiated coverage on Enovis in a report on Tuesday, February 13th. They issued an overweight rating and a $72.00 price target for the company. Wells Fargo & Company increased their price objective on Enovis from $73.00 to $79.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Enovis from $73.00 to $75.00 and gave the company a buy rating in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $75.43.

Enovis Stock Down 1.6 %

ENOV opened at $51.27 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 2.10. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -34.18 and a beta of 1.99. Enovis has a one year low of $43.04 and a one year high of $66.14. The business’s fifty day moving average is $59.15 and its two-hundred day moving average is $55.79.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The business had revenue of $516.00 million for the quarter, compared to analyst estimates of $505.62 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Analysts anticipate that Enovis will post 2.6 EPS for the current fiscal year.

Institutional Trading of Enovis

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Enovis by 1.1% during the third quarter. Vanguard Group Inc. now owns 4,897,449 shares of the company’s stock valued at $258,242,000 after buying an additional 51,319 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Enovis by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,193,699 shares of the company’s stock valued at $178,912,000 after acquiring an additional 117,209 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Enovis by 9.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,429,173 shares of the company’s stock valued at $128,090,000 after purchasing an additional 219,659 shares in the last quarter. DAVENPORT & Co LLC raised its position in Enovis by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after purchasing an additional 103,027 shares during the period. Finally, Channing Capital Management LLC raised its position in Enovis by 26.6% in the fourth quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock valued at $88,983,000 after purchasing an additional 334,154 shares during the period. 98.45% of the stock is currently 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.