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

Enovis (NYSE:ENOV)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $82.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 59.94% from the company’s previous close.

A number of other research analysts have also issued reports on ENOV. Wells Fargo & Company boosted their price target on shares of Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. 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 on the stock. Stephens assumed coverage on Enovis in a report on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 price target for the company. Finally, Canaccord Genuity Group upped their price objective on Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $75.43.

Enovis Price Performance

Shares of NYSE ENOV opened at $51.27 on Friday. The business has a 50-day moving average price of $59.15 and a 200 day moving average price of $55.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16. Enovis has a 52-week low of $43.04 and a 52-week high of $66.14.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The firm had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Enovis’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities analysts predict that Enovis will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Enovis

Several hedge funds have recently modified their holdings of ENOV. Fifth Third Bancorp grew its position in Enovis by 144.6% during the third quarter. Fifth Third Bancorp now owns 587 shares of the company’s stock valued at $31,000 after acquiring an additional 347 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Enovis in the 1st quarter valued at about $34,000. First Horizon Advisors Inc. grew its holdings in shares of Enovis by 902.7% during the 3rd 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. Principal Securities Inc. acquired a new stake in Enovis during the 4th quarter worth approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Enovis by 97.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock valued at $47,000 after buying an additional 417 shares during the period. 98.45% of the stock is 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.