Enovis (NYSE:ENOV) Shares Gap Down to $55.40

Enovis Co. (NYSE:ENOV - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $55.40, but opened at $53.46. Enovis shares last traded at $51.91, with a volume of 166,513 shares trading hands.

Analyst Ratings Changes

ENOV has been the topic of a number of analyst reports. Stephens initiated coverage on Enovis in a research note on Tuesday, February 13th. They set an "overweight" rating and a $72.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $82.00 price objective on shares of Enovis in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price objective on Enovis from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. William Blair initiated coverage on Enovis in a research note on Wednesday, January 3rd. They set an "outperform" rating on the stock. Finally, Canaccord Genuity Group upped their price objective on Enovis from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $75.43.

Enovis Trading Down 5.9 %

The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $59.38 and a two-hundred day moving average of $55.68. The firm has a market cap of $2.86 billion, a P/E ratio of -85.46 and a beta of 1.99.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.03. Enovis had a positive return on equity of 3.84% and a negative net margin of 1.95%. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $444.34 million. During the same period in the prior year, the firm posted $0.72 EPS. The company's revenue for the quarter was up 11.2% on a year-over-year basis. Analysts predict that Enovis Co. will post 2.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENOV. Fidelis Capital Partners LLC acquired a new stake in shares of Enovis during the 1st quarter worth $34,000. Fifth Third Bancorp lifted its position in shares of Enovis by 144.6% during the 3rd quarter. Fifth Third Bancorp now owns 587 shares of the company's stock worth $31,000 after buying an additional 347 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Enovis by 902.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 732 shares of the company's stock worth $39,000 after buying an additional 659 shares during the last quarter. Principal Securities Inc. bought a new position in Enovis in the fourth quarter valued at about $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Enovis by 97.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company's stock valued at $47,000 after purchasing an additional 417 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.