Enovis (NYSE:ENOV) Price Target Cut to $46.00 by Analysts at Evercore ISI

Enovis (NYSE:ENOV - Get Free Report) had its target price cut by Evercore ISI from $48.00 to $46.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price objective would indicate a potential upside of 32.37% from the company's previous close.

Several other equities analysts also recently weighed in on ENOV. Needham & Company LLC lowered 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. Canaccord Genuity Group decreased 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, JMP Securities reduced their target price 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Stock Performance

Shares of ENOV traded up $0.01 on Tuesday, reaching $34.75. The company's stock had a trading volume of 319,646 shares, compared to its average volume of 891,435. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.55 and a quick ratio of 1.32. The stock has a market capitalization of $1.99 billion, a P/E ratio of -2.49 and a beta of 1.70. The stock's 50 day simple moving average is $32.95 and its two-hundred day simple moving average is $37.81. Enovis has a 12-month low of $28.83 and a 12-month high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The company 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 firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. Research analysts forecast that Enovis will post 2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ENOV. Hood River Capital Management LLC bought a new stake in shares of Enovis in the 4th quarter valued at about $29,024,000. Vanguard Group Inc. raised its position in Enovis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock worth $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% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after buying an additional 513,200 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Enovis during the 4th quarter worth approximately $16,407,000. Finally, ExodusPoint Capital Management LP grew 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 purchasing an additional 300,605 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.