Enovis (NYSE:ENOV) Price Target Lowered to $55.00 at JMP Securities

Enovis (NYSE:ENOV) had its price objective cut by JMP Securities from $62.00 to $55.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

Separately, Needham & Company LLC dropped their price target on shares of Enovis from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Friday.

Enovis Price Performance

Shares of NYSE:ENOV opened at $33.05 on Friday. The company’s fifty day moving average price is $35.20 and its 200-day moving average price is $41.57. Enovis has a one year low of $29.32 and a one year high of $53.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.09 and a beta of 1.79.

Enovis (NYSE:ENOV) last announced 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 firm had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. During the same period in the previous year, the business posted $0.50 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities 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 the stock. Charles Schwab Investment Management Inc. grew its stake in Enovis by 10.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 712,810 shares of the company’s stock worth $27,236,000 after purchasing an additional 67,021 shares during the period. Vanguard Group Inc. raised its holdings in Enovis by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company’s stock worth $233,356,000 after acquiring an additional 621,069 shares during the last quarter. Leisure Capital Management lifted its holdings in shares of Enovis by 2.2% during the first quarter. Leisure Capital Management now owns 22,903 shares of the company’s stock valued at $875,000 after purchasing an additional 489 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Enovis by 2.5% during the 1st quarter. US Bancorp DE now owns 19,031 shares of the company’s stock valued at $727,000 after acquiring an additional 462 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Enovis by 4.0% in the first quarter. Natixis Advisors LLC now owns 20,157 shares of the company’s stock worth $770,000 after purchasing an additional 776 shares during the last quarter. Hedge funds and other institutional investors 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.