Enovis (NYSE:ENOV) Sets New 12-Month Low at $46.99

Enovis Co. (NYSE:ENOVGet Rating)’s stock price reached a new 52-week low on Friday . The company traded as low as $46.99 and last traded at $47.41, with a volume of 6503 shares traded. The stock had previously closed at $49.27.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ENOV shares. Argus started coverage on shares of Enovis in a research note on Tuesday, June 28th. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their target price on shares of Enovis to $60.00 in a report on Friday, July 22nd. Evercore ISI started coverage on shares of Enovis in a report on Monday, September 12th. They issued an “outperform” rating and a $68.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of Enovis in a report on Monday, September 12th. They set a “buy” rating and a $67.00 price objective for the company. Finally, Loop Capital reissued a “buy” rating and issued a $68.00 target price on shares of Enovis in a report on Monday, June 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and an average target price of $67.17.

Enovis Trading Down 4.2 %

The business’s 50 day moving average price is $54.84. The company has a market cap of $2.55 billion, a P/E ratio of 22.50, a PEG ratio of 1.06 and a beta of 2.14.

Enovis (NYSE:ENOVGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.10. Enovis had a return on equity of 5.39% and a net margin of 3.49%. The company had revenue of $395.12 million for the quarter, compared to analyst estimates of $400.23 million. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Enovis Co. will post 2.27 EPS for the current fiscal year.

Insider Transactions at Enovis

In other news, SVP Bradley J. Tandy sold 3,355 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $58.39, for a total transaction of $195,898.45. Following the sale, the senior vice president now owns 13,845 shares in the company, valued at $808,409.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Enovis

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Enovis during the second quarter worth about $333,199,000. Cooke & Bieler LP acquired a new stake in shares of Enovis during the second quarter worth about $86,274,000. State Street Corp acquired a new stake in shares of Enovis during the second quarter worth about $72,935,000. Eminence Capital LP acquired a new position in Enovis in the second quarter valued at approximately $66,263,000. Finally, Millennium Management LLC acquired a new position in Enovis in the second quarter valued at approximately $52,132,000. Institutional investors and hedge funds own 89.40% of the company’s stock.

About Enovis

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Enovis Corporation operates as a medical technology company worldwide. It develops, manufactures, and distributes medical device products used by orthopedic specialists, surgeons, primary care physicians, pain management specialists, physical therapists, podiatrists, chiropractors, athletic trainers, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports related injuries.

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