Enovis Co. (NYSE:ENOV) Given Consensus Rating of “Buy” by Brokerages

Enovis Co. (NYSE:ENOV) has earned an average rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $75.43.

ENOV has been the subject of several research analyst reports. UBS Group initiated coverage on Enovis in a research report on Monday, January 22nd. They set a “buy” rating and a $75.00 target price for the company. Wells Fargo & Company lifted their price objective on Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $82.00 price objective on shares of Enovis in a report on Friday. Canaccord Genuity Group lifted their target price on Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Stephens initiated coverage on Enovis in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 target price on the stock.

Institutional Investors Weigh In On Enovis

A number of large investors have recently modified their holdings of ENOV. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Enovis by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,986 shares of the company’s stock worth $474,000 after acquiring an additional 1,037 shares during the last quarter. Strs Ohio grew its stake in shares of Enovis by 16.5% during the third quarter. Strs Ohio now owns 16,558 shares of the company’s stock worth $873,000 after acquiring an additional 2,342 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Enovis during the third quarter worth about $204,000. TD Asset Management Inc grew its stake in shares of Enovis by 2.2% during the third quarter. TD Asset Management Inc now owns 450,540 shares of the company’s stock worth $23,757,000 after acquiring an additional 9,600 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Enovis by 902.7% during the third quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock worth $39,000 after purchasing an additional 659 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Down 1.6 %

Shares of ENOV opened at $51.27 on Friday. The company has a market cap of $2.81 billion, a PE ratio of -84.05 and a beta of 1.99. The business has a fifty day moving average of $59.15 and a 200 day moving average of $55.70. Enovis has a 52-week low of $43.04 and a 52-week high of $66.14. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.14.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Enovis had a positive return on equity of 3.84% and a negative net margin of 1.95%. The business had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, sell-side analysts expect that Enovis will post 2.58 EPS for the current year.

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.