Enovis (NYSE:ENOV) Earns "Buy" Rating from Needham & Company LLC

Enovis (NYSE:ENOV - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $65.00 target price on the stock. Needham & Company LLC's price target suggests a potential upside of 35.16% from the stock's current price.

Several other research analysts have also weighed in on ENOV. Evercore ISI lowered their price objective on Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, October 1st. JMP Securities initiated coverage on Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enovis Stock Performance

Shares of Enovis stock traded up $1.19 on Thursday, reaching $48.09. 833,946 shares of the company were exchanged, compared to its average volume of 580,668. Enovis has a one year low of $38.27 and a one year high of $65.03. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $42.19 and a 200 day moving average of $45.63.

Enovis (NYSE:ENOV - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.10. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm's quarterly revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Enovis will post 2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Enovis

Institutional investors have recently modified their holdings of the business. Ridgewood Investments LLC acquired a new stake in Enovis during the 2nd quarter valued at $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Enovis in the 3rd quarter worth approximately $55,000. Innealta Capital LLC acquired a new position in Enovis during the second quarter valued at approximately $65,000. Benjamin F. Edwards & Company Inc. grew its stake in Enovis by 28.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock worth $76,000 after buying an additional 371 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new position in Enovis during the 3rd quarter valued at about $206,000. 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.