Enovis (NYSE:ENOV) Reaches New 52-Week Low – Time to Sell?

Enovis Co. (NYSE:ENOV) shares hit a new 52-week low on Wednesday . The stock traded as low as $30.18 and last traded at $30.60, with a volume of 1199830 shares traded. The stock had previously closed at $32.50.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of Enovis in a report on Wednesday.

Enovis Stock Down 6.5 %

The business’s fifty day moving average price is $39.13 and its two-hundred day moving average price is $42.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The firm has a market capitalization of $1.82 billion, a P/E ratio of -14.61 and a beta of 1.86.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. Equities analysts expect that Enovis Co. will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC purchased a new stake in shares of Enovis during the fourth quarter valued at $29,024,000. Paradigm Capital Management Inc. NY grew its stake in Enovis by 2,566.0% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company’s stock valued at $23,397,000 after purchasing an additional 513,200 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Enovis in the fourth quarter valued at about $16,407,000. ExodusPoint Capital Management LP raised its stake in shares of Enovis by 919.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company’s stock worth $14,625,000 after purchasing an additional 300,605 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Enovis during the fourth quarter worth about $10,970,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.