Enovis Corporation (NYSE:ENOV) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Enovis Corporation has received a consensus recommendation of "Buy" from six analysts, with an average target price of $53.00 for the stock.
• The company's recent quarterly earnings showed $0.79 EPS, exceeding estimates and a 7.5% year-over-year revenue growth to $564.50 million.
• Institutional investors hold a significant portion of Enovis, with 98.45% of the stock owned by hedge funds and other institutions.

Shares of Enovis Corporation (NYSE:ENOV - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six analysts that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $53.00.

A number of research firms have recently issued reports on ENOV. Evercore ISI reduced their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Needham & Company LLC reduced their price target on shares of Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday. UBS Group reduced their price target on shares of Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday. Canaccord Genuity Group reduced their price target on shares of Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, JMP Securities dropped their price objective on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a report on Friday, May 9th.

Enovis Stock Performance

Shares of Enovis stock traded down $0.03 during trading on Friday, hitting $28.49. 1,179,183 shares of the company's stock were exchanged, compared to its average volume of 1,199,517. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -2.04 and a beta of 1.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.32 and a current ratio of 2.55. The business has a 50-day simple moving average of $30.60 and a 200-day simple moving average of $35.44. Enovis has a 52-week low of $25.47 and a 52-week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The company had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. During the same quarter last year, the business earned $0.62 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. On average, research analysts forecast that Enovis will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in shares of Enovis by 266.7% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Enovis during the fourth quarter worth $29,000. Quadrant Capital Group LLC lifted its position in shares of Enovis by 53.0% during the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after purchasing an additional 239 shares in the last quarter. Quarry LP raised its holdings in Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 749 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Enovis by 144.8% in the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock valued at $45,000 after acquiring an additional 692 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.

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