Enovis (NYSE:ENOV) Hits New 52-Week Low - What's Next?

Key Points

• Enovis Corporation (NYSE:ENOV) reached a new 52-week low at $25.70 during trading, with a current share price of $25.88 and a market cap of $1.48 billion.
• Several financial analysts have downgraded their price targets for Enovis, with a consensus target price now at $55.60 and a consensus rating of "Moderate Buy".
• The company's recent earnings report showed a 8.2% year-over-year revenue increase to $558.83 million, alongside earnings per share of $0.81, surpassing estimates.

Enovis Corporation (NYSE:ENOV - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $25.70 and last traded at $25.88, with a volume of 191713 shares trading hands. The stock had previously closed at $26.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC lowered their target price on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Evercore ISI lowered their target price on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. JMP Securities lowered their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Finally, Canaccord Genuity Group lowered their target price on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Enovis has an average rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Stock Performance

The company has a market cap of $1.52 billion, a price-to-earnings ratio of -1.90 and a beta of 1.70. 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 fifty day moving average of $30.94 and a two-hundred day moving average of $35.70.

Enovis (NYSE:ENOV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The business 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 5.99% and a negative net margin of 37.65%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Equities research analysts anticipate that Enovis Corporation will post 2.79 EPS for the current year.

Institutional Investors Weigh In On Enovis

A number of institutional investors and hedge funds have recently made changes to their positions in ENOV. Aster Capital Management DIFC Ltd purchased a new position in shares of Enovis in the fourth quarter worth about $29,000. Quadrant Capital Group LLC raised its holdings in Enovis by 53.0% in the 4th 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 last quarter. Farther Finance Advisors LLC raised its holdings in Enovis by 266.7% in the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after acquiring an additional 536 shares during the last quarter. Quarry LP grew its position in Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the period. Finally, GAMMA Investing LLC grew its position in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

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.