Enovis (NYSE:ENOV) Hits New 1-Year Low - Time to Sell?

Enovis Co. (NYSE:ENOV - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $29.30 and last traded at $29.62, with a volume of 1667031 shares traded. The stock had previously closed at $31.30.

Analyst Upgrades and Downgrades

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

Enovis Price Performance

The business has a fifty day moving average of $33.53 and a 200 day moving average of $40.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The stock has a market cap of $1.80 billion, a PE ratio of -14.43 and a beta of 1.71.

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

Institutional Investors Weigh In On Enovis

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Enovis by 19.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company's stock valued at $677,000 after buying an additional 2,518 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Enovis by 6.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 46,370 shares of the company's stock worth $2,035,000 after acquiring an additional 2,966 shares during the period. Mariner LLC boosted its stake in Enovis by 16.8% during the 4th quarter. Mariner LLC now owns 7,925 shares of the company's stock valued at $348,000 after purchasing an additional 1,142 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Enovis during the fourth quarter valued at approximately $16,407,000. Finally, Swiss National Bank boosted its position in shares of Enovis by 2.5% during the fourth quarter. Swiss National Bank now owns 109,800 shares of the company's stock worth $4,818,000 after buying an additional 2,700 shares during the period. 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.