Brokerages Set Enovis Corporation (NYSE:ENOV) Target Price at $53.00

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.

Enovis Corporation (NYSE:ENOV - Get Free Report) has received an average rating of "Buy" from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $51.00.

ENOV has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Canaccord Genuity Group dropped their price objective on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Evercore ISI dropped their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. UBS Group dropped their price objective on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Needham & Company LLC dropped their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th.

Hedge Funds Weigh In On Enovis

A number of institutional investors have recently modified their holdings of ENOV. T. Rowe Price Investment Management Inc. boosted its holdings in Enovis by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,207,768 shares of the company's stock valued at $237,199,000 after acquiring an additional 44,632 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Enovis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after purchasing an additional 621,069 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Enovis by 10.4% during the 1st quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock valued at $116,489,000 after purchasing an additional 289,644 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Enovis by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,927,340 shares of the company's stock valued at $111,852,000 after purchasing an additional 27,894 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Enovis by 0.8% during the 1st quarter. Royce & Associates LP now owns 2,490,806 shares of the company's stock valued at $95,174,000 after purchasing an additional 20,230 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Trading Up 3.4%

NYSE:ENOV traded up $0.99 during mid-day trading on Friday, hitting $29.74. The company had a trading volume of 254,175 shares, compared to its average volume of 1,196,212. Enovis has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The business's fifty day moving average is $30.47 and its two-hundred day moving average is $34.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The firm has a market cap of $1.70 billion, a P/E ratio of -2.08 and a beta of 1.70.

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, topping analysts' consensus estimates of $0.74 by $0.05. The company had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%. Enovis's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, research analysts expect that Enovis will post 2.79 earnings per share for the current year.

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.