Enovis (NYSE:ENOV) Trading Down 6.1% - Time to Sell?

Enovis Co. (NYSE:ENOV - Get Free Report) fell 6.1% during trading on Monday . The company traded as low as $29.77 and last traded at $29.39. 920,662 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 797,798 shares. The stock had previously closed at $31.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JMP Securities lowered their price target 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. Needham & Company LLC decreased their target price on shares of Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Canaccord Genuity Group cut their price target 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Enovis Price Performance

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 business's 50 day moving average price is $33.39 and its 200 day moving average price is $40.17. The stock has a market capitalization of $1.82 billion, a P/E ratio of -14.52 and a beta of 1.71.

Enovis (NYSE:ENOV - Get Free Report) last announced 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. The business had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. Sell-side analysts forecast that Enovis Co. will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENOV. Hood River Capital Management LLC bought a new position in shares of Enovis in the 4th quarter worth approximately $29,024,000. Vanguard Group Inc. increased its holdings in Enovis by 11.3% during the first quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after buying an additional 621,069 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in Enovis by 2,566.0% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after acquiring an additional 513,200 shares during the period. Raymond James Financial Inc. bought a new position in Enovis in the fourth quarter worth approximately $16,407,000. Finally, ExodusPoint Capital Management LP boosted its stake in shares of Enovis by 919.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock worth $14,625,000 after acquiring an additional 300,605 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other 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.