Needham & Company LLC Reiterates "Buy" Rating for Enovis (NYSE:ENOV)

Enovis (NYSE:ENOV - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $82.00 price objective on the stock. Needham & Company LLC's price objective suggests a potential upside of 36.85% from the stock's current price.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company upped their target price on Enovis from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Stephens initiated coverage on Enovis in a research report on Tuesday, February 13th. They set an "overweight" rating and a $72.00 target price on the stock. William Blair started coverage on Enovis in a research report on Wednesday, January 3rd. They set an "outperform" rating on the stock. Canaccord Genuity Group increased their price objective on Enovis from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Finally, UBS Group started coverage on Enovis in a research note on Monday, January 22nd. They issued a "buy" rating and a $75.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Enovis currently has a consensus rating of "Buy" and an average target price of $75.43.

Enovis Stock Down 4.0 %

Enovis stock traded down $2.51 during trading hours on Wednesday, reaching $59.92. The stock had a trading volume of 433,868 shares, compared to its average volume of 453,155. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -98.23 and a beta of 1.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.43 and a quick ratio of 1.16. The business's 50 day moving average price is $60.67 and its 200-day moving average price is $55.13. Enovis has a 52 week low of $43.04 and a 52 week high of $66.14.

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

Hedge Funds Weigh In On Enovis

Several hedge funds and other institutional investors have recently made changes to their positions in ENOV. Neuberger Berman Group LLC acquired a new stake in shares of Enovis during the 1st quarter worth about $905,000. JPMorgan Chase & Co. acquired a new stake in shares of Enovis during the 2nd quarter worth about $5,573,000. Bank of Montreal Can acquired a new stake in shares of Enovis during the 2nd quarter worth about $532,000. UBS Group AG acquired a new stake in shares of Enovis during the 2nd quarter worth about $1,211,000. Finally, FMR LLC acquired a new position in Enovis during the second quarter worth approximately $3,016,000. 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.