Enovis (NYSE:ENOV) Shares Down 4.3% - What's Next?

Enovis Corporation (NYSE:ENOV - Get Free Report)'s share price fell 4.3% during mid-day trading on Monday . The company traded as low as $32.68 and last traded at $32.56. 213,394 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 900,960 shares. The stock had previously closed at $34.03.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ENOV. JMP Securities dropped 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 dropped their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Canaccord Genuity Group dropped their price target on shares of Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Needham & Company LLC dropped their price target on shares of Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Stock Down 6.2%

The business has a fifty day simple moving average of $32.98 and a two-hundred day simple moving average of $37.59. 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 company has a market cap of $1.82 billion, a PE ratio of -2.29 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $558.83 million for 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 for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. As a group, equities research analysts predict that Enovis Corporation will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENOV. Hood River Capital Management LLC purchased a new position in shares of Enovis during the 4th quarter worth $29,024,000. Vanguard Group Inc. raised its holdings in Enovis by 11.3% in the 1st 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 period. Paradigm Capital Management Inc. NY raised its holdings in Enovis by 2,566.0% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock valued at $23,397,000 after buying an additional 513,200 shares during the period. Raymond James Financial Inc. purchased a new stake in Enovis in the 4th quarter valued at about $16,407,000. Finally, ExodusPoint Capital Management LP raised its holdings in Enovis by 919.4% in the 4th quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock valued at $14,625,000 after buying an additional 300,605 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.