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

Enovis (NYSE:ENOV) had its price objective lowered by Evercore ISI from $62.00 to $58.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on ENOV. Needham & Company LLC lowered their price target on shares of Enovis from $82.00 to $65.00 and set a buy rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Enovis from $53.00 to $50.00 and set a neutral rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $67.89.

Enovis Trading Up 1.8 %

NYSE ENOV opened at $40.68 on Tuesday. The company’s 50-day moving average price is $43.88 and its 200-day moving average price is $48.73. 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 cap of $2.23 billion, a PE ratio of -27.12 and a beta of 1.91. Enovis has a 12 month low of $39.76 and a 12 month high of $65.03.

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

Hedge Funds Weigh In On Enovis

Several institutional investors have recently made changes to their positions in ENOV. US Bancorp DE grew its stake in Enovis by 5.2% in the 4th quarter. US Bancorp DE now owns 12,596 shares of the company’s stock valued at $706,000 after acquiring an additional 627 shares during the period. Treasurer of the State of North Carolina grew its stake in Enovis by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock valued at $1,303,000 after acquiring an additional 220 shares during the period. Pinebridge Investments L.P. grew its stake in Enovis by 74.2% in the 4th quarter. Pinebridge Investments L.P. now owns 12,685 shares of the company’s stock valued at $711,000 after acquiring an additional 5,405 shares during the period. First National Bank of Omaha grew its stake in Enovis by 13.3% in the 4th quarter. First National Bank of Omaha now owns 41,348 shares of the company’s stock valued at $2,316,000 after acquiring an additional 4,847 shares during the period. Finally, Quadrature Capital Ltd grew its stake in Enovis by 175.5% in the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock valued at $1,913,000 after acquiring an additional 21,760 shares during the period. 98.45% of the stock is owned by hedge funds and other 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.