Enovis’ (ENOV) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Enovis (NYSE:ENOV) in a report issued on Friday morning, Benzinga reports. Needham & Company LLC currently has a $82.00 target price on the stock.

A number of other research analysts have also recently weighed in on ENOV. 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 lifted their target price on Enovis from $73.00 to $75.00 and gave the company a buy rating in a research note on Friday, February 23rd. Wells Fargo & Company upped their price target on Enovis from $73.00 to $79.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. 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 objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average price target of $75.43.

Enovis Stock Performance

Shares of NYSE:ENOV traded down $0.86 during trading on Friday, hitting $51.27. The company’s stock had a trading volume of 1,147,518 shares, compared to its average volume of 520,993. The company has a 50-day moving average of $59.15 and a 200-day 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 has a 12 month low of $43.04 and a 12 month high of $66.14.

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

Hedge Funds Weigh In On Enovis

Large investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Enovis in the 1st quarter valued at $34,000. Fifth Third Bancorp increased its stake in Enovis by 144.6% in the 3rd 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. First Horizon Advisors Inc. lifted its holdings in Enovis by 902.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock valued at $39,000 after buying an additional 659 shares in the last quarter. Principal Securities Inc. purchased a new stake in Enovis in the 4th quarter valued at about $41,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Enovis by 97.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock worth $47,000 after acquiring an additional 417 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.