Enovis (NYSE:ENOV) Sets New 1-Year Low – Here’s What Happened

Enovis Co. (NYSE:ENOV)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $37.90 and last traded at $37.90, with a volume of 112 shares trading hands. The stock had previously closed at $38.77.

Analyst Ratings Changes

Several equities research analysts have commented on ENOV shares. Needham & Company LLC cut their target price on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI cut their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. JMP Securities started coverage on Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.89.

Enovis Trading Up 3.9 %

The business has a 50 day moving average price of $43.10 and a 200-day moving average price of $48.01. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.25 billion, a P/E ratio of -24.23 and a beta of 1.91.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The business had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter in the prior year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. Analysts forecast that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enovis

A number of large investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in Enovis during the 1st quarter worth $34,000. Ridgewood Investments LLC bought a new position in Enovis during the 2nd quarter worth $44,000. Innealta Capital LLC bought a new position in Enovis during the 2nd quarter worth $65,000. GAMMA Investing LLC increased its position in Enovis by 19.9% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock worth $68,000 after buying an additional 180 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares during the period. 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.