Enovis (NYSE:ENOV) Shares Gap Down to $55.40

Shares of Enovis Co. (NYSE:ENOV) gapped down before the market opened on Thursday . The stock had previously closed at $55.40, but opened at $53.46. Enovis shares last traded at $51.91, with a volume of 166,513 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Canaccord Genuity Group raised their price target on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Enovis in a research report on Friday. UBS Group assumed coverage on shares of Enovis in a research report on Monday, January 22nd. They set a “buy” rating and a $75.00 price target for the company. Finally, Stephens assumed coverage on shares of Enovis in a research report on Tuesday, February 13th. They set an “overweight” rating and a $72.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $75.43.

Enovis Stock Performance

The firm has a 50-day simple moving average of $59.15 and a 200-day simple moving average of $55.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company had revenue of $516.00 million for the quarter, compared to the consensus estimate of $505.62 million. During the same quarter last year, the firm posted $0.44 earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. As a group, equities analysts anticipate that Enovis Co. will post 2.58 EPS for the current year.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC increased its stake in shares of Enovis by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock worth $123,804,000 after purchasing an additional 103,027 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Enovis in the 1st quarter worth $34,000. Janney Montgomery Scott LLC raised its holdings in Enovis by 18.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock valued at $305,000 after acquiring an additional 765 shares during the period. SeaBridge Investment Advisors LLC lifted its position in shares of Enovis by 165.6% in the first quarter. SeaBridge Investment Advisors LLC now owns 22,232 shares of the company’s stock valued at $1,388,000 after acquiring an additional 13,861 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Enovis by 2.5% in the first quarter. Principal Financial Group Inc. now owns 849,023 shares of the company’s stock worth $53,022,000 after acquiring an additional 20,720 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.