Enovis (NYSE:ENOV) Trading Down 4.3% - Should You Sell?

Shares of Enovis Corporation (NYSE:ENOV - Get Free Report) were down 4.3% during trading on Monday . The stock traded as low as $32.68 and last traded at $32.56. Approximately 213,394 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 900,960 shares. The stock had previously closed at $34.03.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ENOV. Evercore ISI cut their price target on shares of Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. 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 report on Friday, May 9th. Needham & Company LLC cut their price target on shares of Enovis from $64.00 to $57.00 and set a "buy" rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Price Performance

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 firm has a market capitalization of $1.76 billion, a P/E ratio of -2.21 and a beta of 1.70. The stock's 50 day simple moving average is $32.79 and its 200 day simple moving average is $37.41.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The firm had revenue of $558.83 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. As a group, analysts expect that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.