Enovis (NYSE:ENOV) Given New $57.00 Price Target at Needham & Company LLC

Enovis (NYSE:ENOV) had its price objective lowered by equities research analysts at Needham & Company LLC from $64.00 to $57.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 72.47% from the stock’s previous close.

Enovis Price Performance

Enovis stock opened at $33.05 on Friday. The firm has a market capitalization of $1.89 billion, a PE ratio of -15.09 and a beta of 1.79. Enovis has a 52 week low of $29.32 and a 52 week high of $53.84. The firm’s 50-day simple moving average is $35.20 and its 200 day simple moving average is $41.56. 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 issued its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $558.80 million. During the same period last year, the company posted $0.50 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Enovis will post 2.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Enovis

Several hedge funds have recently modified their holdings of the company. Barclays PLC increased its stake in Enovis by 16.1% in the third quarter. Barclays PLC now owns 368,488 shares of the company’s stock valued at $15,864,000 after purchasing an additional 51,151 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Enovis during the 4th quarter valued at about $268,000. Oak Thistle LLC purchased a new position in shares of Enovis during the 4th quarter worth about $324,000. Assenagon Asset Management S.A. purchased a new position in shares of Enovis during the 4th quarter worth about $437,000. Finally, Park Avenue Securities LLC boosted its position in shares of Enovis by 12.5% in the fourth quarter. Park Avenue Securities LLC now owns 11,988 shares of the company’s stock worth $526,000 after acquiring an additional 1,333 shares during the last quarter. 98.45% of the stock is 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.