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

Shares of Enovis Co. (NYSE:ENOV) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $75.43.

Several equities analysts have commented on ENOV shares. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Enovis in a research note on Friday, May 3rd. Stephens started coverage on shares of Enovis in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. UBS Group assumed coverage on shares of Enovis in a research report on Monday, January 22nd. They set a “buy” rating and a $75.00 target price on the stock. Finally, Canaccord Genuity Group raised their target price on shares of Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd.

Enovis Stock Down 3.2 %

Shares of ENOV opened at $50.55 on Friday. The company’s 50-day simple moving average is $58.55 and its 200-day simple moving average is $55.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 2.10. Enovis has a 1 year low of $43.04 and a 1 year high of $66.14. The stock has a market capitalization of $2.77 billion, a PE ratio of -33.70 and a beta of 1.99.

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

Institutional Investors Weigh In On Enovis

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Enovis by 48.3% during the third quarter. Public Employees Retirement System of Ohio now owns 65,916 shares of the company’s stock worth $3,476,000 after purchasing an additional 21,479 shares during the period. Channing Capital Management LLC lifted its holdings 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 acquiring an additional 334,154 shares during the period. Tributary Capital Management LLC lifted its holdings in Enovis by 14.9% in the fourth quarter. Tributary Capital Management LLC now owns 292,626 shares of the company’s stock valued at $16,393,000 after acquiring an additional 37,858 shares during the period. Cross Staff Investments Inc acquired a new stake in Enovis in the fourth quarter valued at $205,000. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new position in shares of Enovis during the 4th quarter worth $7,013,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.