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

Enovis Corporation (NYSE:ENOV - Get Free Report) shares hit a new 52-week low 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

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

Enovis Stock Up 0.5%

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -2.31 and a beta of 1.71. The business's 50-day moving average is $33.07 and its 200-day moving average is $38.53. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 0.52.

Enovis (NYSE:ENOV - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $0.50 earnings per share. As a group, equities analysts predict that Enovis Corporation will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENOV. Quadrant Capital Group LLC raised 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 acquiring an additional 239 shares during the period. Amalgamated Bank raised 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 acquiring an additional 264 shares during the period. California State Teachers Retirement System raised 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 acquiring an additional 350 shares during the period. Arizona State Retirement System raised 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 acquiring an additional 414 shares during the period. Finally, Humankind Investments LLC raised its position in shares of Enovis by 8.6% in the first quarter. Humankind Investments LLC now owns 5,688 shares of the company's stock worth $217,000 after acquiring an additional 452 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.