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

Needham & Company LLC reissued their buy rating on shares of Enovis (NYSE:ENOV) in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $82.00 price objective on the stock.

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

Enovis Price Performance

Shares of NYSE ENOV opened at $58.57 on Wednesday. Enovis has a fifty-two week low of $43.04 and a fifty-two week high of $66.14. The company has a 50 day simple moving average of $60.65 and a two-hundred day simple moving average of $55.20. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -96.02 and a beta of 1.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 2.43.

Enovis (NYSE:ENOV) last announced its earnings results on Thursday, February 22nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $455.00 million during the quarter, compared to the consensus estimate of $444.34 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts expect that Enovis will post 2.58 EPS for the current fiscal year.

Institutional Trading of Enovis

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp purchased a new position in shares of Enovis in the 2nd quarter worth $72,935,000. Goldman Sachs Group Inc. purchased a new position in shares of Enovis in the 2nd quarter worth $51,978,000. Select Equity Group L.P. purchased a new position in shares of Enovis during the 4th quarter worth about $38,546,000. Wells Fargo & Company MN boosted its stake in shares of Enovis by 907.7% during the 4th quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock worth $31,339,000 after purchasing an additional 503,913 shares during the period. Finally, Northern Trust Corp purchased a new position in shares of Enovis during the 2nd quarter worth about $20,359,000. 98.45% of the stock is currently owned by institutional investors.

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.