Analysts Set Enovis Corporation (NYSE:ENOV) Price Target at $51.17

Shares of Enovis Corporation (NYSE:ENOV) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $51.1667.

A number of research firms have recently issued reports on ENOV. Wells Fargo & Company lifted their target price on shares of Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. UBS Group cut their target price on Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Needham & Company LLC reduced their price target on Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 8th.

Enovis Stock Performance

Shares of Enovis stock opened at $28.31 on Friday. The firm’s 50 day moving average is $31.17 and its two-hundred day moving average is $31.21. Enovis has a 52 week low of $25.47 and a 52 week high of $49.75. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.62 billion, a P/E ratio of -1.99 and a beta of 1.67.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Monday, January 8th. The company reported $0.59 earnings per share for the quarter. The company had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%. Research analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Insider Activity at Enovis

In other news, SVP Bradley J. Tandy acquired 3,200 shares of Enovis stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $31.41 per share, with a total value of $100,512.00. Following the completion of the acquisition, the senior vice president owned 43,515 shares in the company, valued at $1,366,806.15. This trade represents a 7.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Damien Mcdonald bought 6,457 shares of the stock in a transaction on Thursday, September 11th. The stock was purchased at an average cost of $30.97 per share, for a total transaction of $199,973.29. Following the acquisition, the chief executive officer directly owned 102,753 shares of the company’s stock, valued at $3,182,260.41. The trade was a 6.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Enovis by 2.0% during the third quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock valued at $197,945,000 after acquiring an additional 125,460 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Enovis by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,207,768 shares of the company’s stock valued at $237,199,000 after purchasing an additional 44,632 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Enovis by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock worth $90,156,000 after purchasing an additional 51,201 shares during the last quarter. Rubric Capital Management LP acquired a new stake in shares of Enovis during the 3rd quarter worth about $83,435,000. Finally, Royce & Associates LP grew its holdings in shares of Enovis by 0.8% during the first quarter. Royce & Associates LP now owns 2,490,806 shares of the company’s stock worth $95,174,000 after buying an additional 20,230 shares in the last quarter. 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.