Evercore ISI Cuts Enovis (NYSE:ENOV) Price Target to $58.00

Enovis (NYSE:ENOV) had its price target trimmed by Evercore ISI from $62.00 to $58.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also commented on ENOV. JPMorgan Chase & Co. cut their target price on Enovis from $53.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Needham & Company LLC cut their target price on Enovis from $82.00 to $65.00 and set a buy rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $67.89.

Enovis Stock Down 2.2 %

ENOV opened at $39.93 on Tuesday. Enovis has a 1-year low of $39.76 and a 1-year high of $65.03. 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 stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -26.62 and a beta of 1.91. The business has a 50 day moving average of $44.03 and a 200-day moving average of $48.86.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $525.99 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. Enovis’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. As a group, sell-side analysts anticipate that Enovis will post 2.7 earnings per share for the current year.

Institutional Trading of Enovis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Enovis in the first quarter valued at $34,000. Ridgewood Investments LLC acquired a new stake in shares of Enovis in the second quarter valued at $44,000. Innealta Capital LLC bought a new position in Enovis in the second quarter valued at about $65,000. GAMMA Investing LLC boosted its holdings in Enovis by 19.9% in the first quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after acquiring an additional 180 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after acquiring an additional 371 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.