Enovis Co. (NYSE:ENOV) Receives $75.43 Consensus Price Target from Analysts

Enovis Co. (NYSE:ENOV) has earned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $75.43.

Several equities research analysts have issued reports on ENOV shares. Wells Fargo & Company increased their target price on Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Stephens assumed coverage on Enovis in a report on Tuesday, February 13th. They set an “overweight” rating and a $72.00 target price for the company. UBS Group started coverage on Enovis in a research report on Monday, January 22nd. They set a “buy” rating and a $75.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Enovis in a report on Friday, May 3rd.

Enovis Price Performance

Shares of NYSE ENOV opened at $50.55 on Friday. The stock has a fifty day simple moving average of $58.55 and a two-hundred day simple moving average of $55.85. Enovis has a 1-year low of $43.04 and a 1-year high of $66.14. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -33.70 and a beta of 1.99. The company has a current ratio of 2.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The business had revenue of $516.00 million during the quarter, compared to analyst estimates of $505.62 million. During the same period in the prior year, the company earned $0.44 earnings per share. Enovis’s revenue was up 27.0% compared to the same quarter last year. Analysts anticipate that Enovis will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Enovis

A number of institutional investors and hedge funds have recently bought and sold shares of ENOV. Vanguard Group Inc. raised its position in shares of Enovis by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,897,449 shares of the company’s stock valued at $258,242,000 after buying an additional 51,319 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Enovis by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,193,699 shares of the company’s stock valued at $178,912,000 after purchasing an additional 117,209 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Enovis by 9.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,429,173 shares of the company’s stock worth $128,090,000 after purchasing an additional 219,659 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Enovis by 5.5% during the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock worth $123,804,000 after purchasing an additional 103,027 shares during the last quarter. Finally, Channing Capital Management LLC boosted its holdings in shares of Enovis by 26.6% in the 4th quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after purchasing an additional 334,154 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.