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Enovis Co. (NYSE:ENOV) Receives $67.00 Average Price Target from Analysts

Enovis logo with Medical background

Shares of Enovis Co. (NYSE:ENOV - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $67.00.

Several equities analysts recently issued reports on the company. JMP Securities assumed coverage on Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price target on the stock. Evercore ISI lowered their price objective on Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $65.00 target price on shares of Enovis in a research note on Thursday, November 7th.

Check Out Our Latest Stock Analysis on ENOV

Enovis Stock Performance

ENOV stock traded down $0.78 on Friday, reaching $46.14. 496,454 shares of the company were exchanged, compared to its average volume of 580,633. The firm has a market capitalization of $2.58 billion, a PE ratio of -21.07 and a beta of 1.94. Enovis has a 12 month low of $38.27 and a 12 month high of $65.03. The stock's fifty day moving average price is $44.26 and its 200 day moving average price is $44.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. The company had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business's quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. On average, research analysts anticipate that Enovis will post 2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. River Road Asset Management LLC acquired a new stake in shares of Enovis during the third quarter worth approximately $51,341,000. American Century Companies Inc. increased its holdings in Enovis by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company's stock valued at $68,337,000 after purchasing an additional 665,208 shares in the last quarter. Magnetar Financial LLC increased its holdings in Enovis by 66.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company's stock valued at $49,937,000 after purchasing an additional 442,051 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Enovis by 14.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company's stock valued at $125,929,000 after purchasing an additional 352,116 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company's stock worth $103,479,000 after purchasing an additional 346,317 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About Enovis

(Get Free Report

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.

Further Reading

Analyst Recommendations for Enovis (NYSE:ENOV)

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