Enovis (NYSE:ENOV) Price Target Cut to $57.00 by Analysts at Needham & Company LLC

Enovis (NYSE:ENOV - Get Free Report) had its price objective decreased by investment analysts at Needham & Company LLC from $64.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 72.47% from the company's current price.

Enovis Trading Down 0.1%

NYSE:ENOV traded down $0.03 on Friday, hitting $33.05. 1,748,093 shares of the stock were exchanged, compared to its average volume of 768,536. The stock has a market cap of $1.89 billion, a PE ratio of -15.09 and a beta of 1.79. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $35.20 and a 200-day moving average of $41.57. Enovis has a fifty-two week low of $29.32 and a fifty-two week high of $53.84.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities analysts expect that Enovis will post 2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enovis

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENOV. Quadrant Capital Group LLC boosted its position in shares of Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after buying an additional 239 shares during the period. Amalgamated Bank boosted its position in shares of Enovis by 1.0% in the fourth quarter. Amalgamated Bank now owns 25,887 shares of the company's stock worth $1,136,000 after buying an additional 264 shares during the period. Pinnacle Bancorp Inc. boosted its position in shares of Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company's stock worth $37,000 after buying an additional 300 shares during the period. California State Teachers Retirement System boosted its position in shares of Enovis by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 52,236 shares of the company's stock worth $2,292,000 after buying an additional 350 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Enovis by 2.6% in the fourth quarter. Arizona State Retirement System now owns 16,208 shares of the company's stock worth $711,000 after buying an additional 414 shares during the period. 98.45% of the stock is currently 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.