Enovis Co. (NYSE:ENOV) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Enovis Co. (NYSE:ENOV - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $67.00.

ENOV has been the subject of several research analyst reports. JMP Securities assumed coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an "outperform" rating and a $62.00 price objective for the company. Evercore ISI dropped their price objective on shares of Enovis from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $65.00 price target on shares of Enovis in a report on Thursday, November 7th.

Enovis Trading Up 2.4 %

Shares of NYSE ENOV traded up $1.08 during midday trading on Thursday, reaching $45.84. The stock had a trading volume of 1,186,619 shares, compared to its average volume of 865,624. Enovis has a twelve month low of $38.27 and a twelve month high of $65.03. 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 company's 50 day moving average price is $45.69 and its 200 day moving average price is $44.32. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -20.93 and a beta of 1.94.

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

Hedge Funds Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its stake in shares of Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after buying an additional 371 shares during the period. Aigen Investment Management LP boosted its position in Enovis by 5.1% during the third quarter. Aigen Investment Management LP now owns 8,859 shares of the company's stock worth $381,000 after purchasing an additional 430 shares during the period. FMR LLC increased its stake in shares of Enovis by 20.5% in the third quarter. FMR LLC now owns 2,840 shares of the company's stock worth $122,000 after purchasing an additional 484 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Enovis by 20.8% in the third quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company's stock valued at $279,000 after purchasing an additional 1,115 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Enovis during the 3rd quarter valued at approximately $55,000. 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.