Enovis Co. (NYSE:ENOV) Receives Average Recommendation of “Buy” from Brokerages

Shares of Enovis Co. (NYSE:ENOV) have earned a consensus rating of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $75.43.

A number of equities analysts have weighed in on ENOV shares. Wells Fargo & Company boosted their price objective on Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Stephens assumed 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. UBS Group began coverage on shares of Enovis in a research note on Monday, January 22nd. They set a “buy” rating and a $75.00 target price on the stock. Canaccord Genuity Group increased their price target on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price target on shares of Enovis in a report on Wednesday, April 10th.

Enovis Price Performance

Shares of NYSE ENOV opened at $56.82 on Tuesday. The firm has a 50-day simple moving average of $60.61 and a 200-day simple moving average of $55.26. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -93.15 and a beta of 1.97. Enovis has a 52 week low of $43.04 and a 52 week high of $66.14.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $455.00 million during the quarter, compared to the consensus estimate of $444.34 million. Enovis had a negative net margin of 1.95% and a positive return on equity of 3.84%. Enovis’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, equities analysts predict that Enovis will post 2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position 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 buying an additional 347 shares during the period. State of Wyoming grew its position in Enovis by 59,200.0% in the 4th quarter. State of Wyoming now owns 593 shares of the company’s stock valued at $32,000 after acquiring an additional 592 shares in the last quarter. UMB Bank n.a. purchased a new stake in Enovis during the third quarter worth about $31,000. KBC Group NV acquired a new stake in shares of Enovis during the fourth quarter worth about $38,000. Finally, First Horizon Advisors Inc. boosted 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 valued at $39,000 after purchasing an additional 659 shares during the period. 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.