Enovis (NYSE:ENOV) Sets New 12-Month Low - Should You Sell?

Enovis Corporation (NYSE:ENOV - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $28.83 and last traded at $29.39, with a volume of 422504 shares changing hands. The stock had previously closed at $30.11.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ENOV shares. JMP Securities reduced their price target on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC cut their target price on shares of Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Canaccord Genuity Group cut their target price on shares of Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Enovis Price Performance

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 company has a market cap of $1.83 billion, a PE ratio of -2.29 and a beta of 1.71. The company's 50-day simple moving average is $33.04 and its 200 day simple moving average is $38.68.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The company had revenue of $558.83 million during the quarter, compared to the consensus estimate of $558.80 million. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. On average, sell-side analysts predict that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enovis

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in 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. Amalgamated Bank raised its stake in shares of Enovis by 1.0% during the 4th quarter. Amalgamated Bank now owns 25,887 shares of the company's stock worth $1,136,000 after buying an additional 264 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Enovis by 0.7% during the 4th 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 in the last quarter. Arizona State Retirement System raised its stake in shares of Enovis by 2.6% during the 4th quarter. Arizona State Retirement System now owns 16,208 shares of the company's stock worth $711,000 after buying an additional 414 shares in the last quarter. Finally, Humankind Investments LLC raised its stake in shares of Enovis by 8.6% during the 1st quarter. Humankind Investments LLC now owns 5,688 shares of the company's stock worth $217,000 after buying an additional 452 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.