Enovis’ (ENOV) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Enovis (NYSE:ENOV) in a report issued on Friday morning, Benzinga reports. They currently have a $82.00 target price on the stock.

Several other equities analysts also recently commented on the company. UBS Group began coverage on Enovis in a research report on Monday, January 22nd. They issued a buy rating and a $75.00 target price on the stock. Stephens started coverage on shares of Enovis in a report on Tuesday, February 13th. They issued an overweight rating and a $72.00 price objective for the company. 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 report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on Enovis from $73.00 to $79.00 and gave the company an overweight rating in a report on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $75.43.

Enovis Price Performance

Shares of NYSE ENOV opened at $51.27 on Friday. Enovis has a fifty-two week low of $43.04 and a fifty-two week high of $66.14. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -34.18 and a beta of 1.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16. The business has a 50-day moving average of $59.15 and a 200-day moving average of $55.79.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in Enovis during the 1st quarter worth approximately $34,000. Fifth Third Bancorp lifted its holdings in shares of Enovis by 144.6% during the third quarter. Fifth Third Bancorp now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 347 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Enovis by 902.7% in the third quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock worth $39,000 after purchasing an additional 659 shares during the last quarter. Principal Securities Inc. acquired a new stake in Enovis in the fourth quarter valued at $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Enovis by 97.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock worth $47,000 after purchasing an additional 417 shares during the last quarter. 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.