Enovis (NYSE:ENOV) Hits New 12-Month Low at $42.44

Shares of Enovis Co. (NYSE:ENOV) hit a new 52-week low on Monday . The company traded as low as $42.44 and last traded at $42.62, with a volume of 286479 shares. The stock had previously closed at $45.40.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Enovis in a research report on Thursday, June 13th. They issued a “neutral” rating and a $53.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Enovis in a research report on Friday, May 3rd. Finally, Evercore ISI lowered their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.63.

Enovis Price Performance

The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $46.18 and a 200 day moving average price of $53.91. The firm has a market capitalization of $2.34 billion, a PE ratio of -28.71 and a beta of 1.92.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, hitting 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. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities analysts forecast that Enovis Co. will post 2.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new position in Enovis during the first quarter worth approximately $34,000. Principal Securities Inc. acquired a new position in shares of Enovis during the 4th quarter valued at about $41,000. Ridgewood Investments LLC purchased a new stake in shares of Enovis in the second quarter valued at about $44,000. Benjamin F. Edwards & Company Inc. increased its position in Enovis by 97.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock worth $47,000 after purchasing an additional 417 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Enovis during the fourth quarter worth about $53,000. 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.