Enovis (NYSE:ENOV) Hits New 1-Year Low - What's Next?

Enovis Corporation (NYSE:ENOV - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.59 and last traded at $28.48, with a volume of 873110 shares trading hands. The stock had previously closed at $30.86.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENOV. Canaccord Genuity Group reduced their price target on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. JMP Securities cut their price target on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Evercore ISI lowered their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, Needham & Company LLC lowered their price target on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.60.

Enovis Trading Down 0.5%

The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The stock's fifty day moving average price is $32.61 and its two-hundred day moving average price is $37.10. The stock has a market capitalization of $1.49 billion, a P/E ratio of -1.88 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. Enovis had a negative net margin of 37.65% and a positive return on equity of 5.99%. The firm had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. During the same period last year, the firm posted $0.50 earnings per share. Enovis's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts forecast that Enovis Corporation will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its stake in shares of 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 buying an additional 239 shares in the last quarter. California State Teachers Retirement System increased its stake in Enovis by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 52,236 shares of the company's stock valued at $2,292,000 after acquiring an additional 350 shares during the period. Humankind Investments LLC lifted its position 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 during the period. Xponance Inc. increased its stake in shares of Enovis by 7.8% in the 4th quarter. Xponance Inc. now owns 6,380 shares of the company's stock valued at $280,000 after buying an additional 462 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Enovis by 2.5% in the first quarter. US Bancorp DE now owns 19,031 shares of the company's stock worth $727,000 after acquiring an additional 462 shares in the last quarter. 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.