Enovis (NYSE:ENOV) Price Target Lowered to $50.00 at Canaccord Genuity Group

Enovis (NYSE:ENOV) had its price target lowered by equities research analysts at Canaccord Genuity Group from $58.00 to $50.00 in a report issued on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 83.02% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Enovis in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Enovis has an average rating of “Moderate Buy” and an average price target of $49.83.

Enovis Price Performance

ENOV stock opened at $27.32 on Wednesday. The company has a market capitalization of $1.56 billion, a P/E ratio of -1.15 and a beta of 1.52. The company has a fifty day moving average price of $29.76 and a 200-day moving average price of $30.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.22. Enovis has a 52-week low of $25.47 and a 52-week high of $49.38.

Enovis (NYSE:ENOV) last announced its earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The business had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%. As a group, equities analysts expect that Enovis will post 2.79 EPS for the current year.

Insider Activity

In related news, EVP Daniel A. Pryor sold 999 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total transaction of $27,172.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kleckner acquired 2,468 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the purchase, the insider owned 12,302 shares in the company, valued at approximately $372,996.64. This represents a 25.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Enovis by 42.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock worth $37,000 after buying an additional 367 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after acquiring an additional 707 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Enovis in the second quarter worth $46,000. SJS Investment Consulting Inc. grew its stake in Enovis by 30,340.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Enovis by 235.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,703 shares of the company’s stock valued at $52,000 after purchasing an additional 1,195 shares during the last quarter. 98.45% of the stock is currently 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.