Enovis (NYSE:ENOV) Sets New 1-Year Low - Here's Why

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

Analyst Ratings Changes

ENOV has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Needham & Company LLC reduced their price target on Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Evercore ISI dropped their price objective on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, JMP Securities decreased their target price 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. 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.60.

Enovis Stock Performance

The firm has a fifty day moving average of $32.40 and a 200-day moving average of $36.98. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -1.95 and a beta of 1.70.

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

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Enovis by 19.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company's stock valued at $677,000 after acquiring an additional 2,518 shares during the period. Mariner LLC lifted its position in Enovis by 16.8% in the fourth quarter. Mariner LLC now owns 7,925 shares of the company's stock valued at $348,000 after buying an additional 1,142 shares during the last quarter. Swiss National Bank boosted its position in Enovis by 2.5% in the 4th quarter. Swiss National Bank now owns 109,800 shares of the company's stock valued at $4,818,000 after buying an additional 2,700 shares during the period. Comerica Bank raised its holdings in Enovis by 22.9% during the fourth quarter. Comerica Bank now owns 49,560 shares of the company's stock worth $2,175,000 after purchasing an additional 9,224 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Enovis by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,486,130 shares of the company's stock valued at $240,731,000 after purchasing an additional 75,348 shares during the period. 98.45% of the stock is currently owned by 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.