JMP Securities Begins Coverage on Enovis (NYSE:ENOV)

JMP Securities started coverage on shares of Enovis (NYSE:ENOV) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $62.00 price objective on the stock.

ENOV has been the subject of a number of other research reports. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an outperform rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on Enovis from $53.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC lowered their target price on Enovis from $82.00 to $65.00 and set a buy rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $67.89.

Enovis Price Performance

Shares of NYSE:ENOV opened at $40.69 on Thursday. The company has a market capitalization of $2.23 billion, a PE ratio of -27.13 and a beta of 1.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. The stock has a fifty day moving average of $43.88 and a 200-day moving average of $48.58. Enovis has a one year low of $39.76 and a one year high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter last year, the business posted $0.61 EPS. Enovis’s revenue was up 22.6% on a year-over-year basis. As a group, equities analysts anticipate that Enovis will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. US Bancorp DE raised its stake in shares of Enovis by 5.2% in the 4th quarter. US Bancorp DE now owns 12,596 shares of the company’s stock valued at $706,000 after acquiring an additional 627 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Enovis by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock valued at $1,303,000 after purchasing an additional 220 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Enovis by 74.2% in the fourth quarter. Pinebridge Investments L.P. now owns 12,685 shares of the company’s stock worth $711,000 after buying an additional 5,405 shares during the last quarter. First National Bank of Omaha boosted its holdings in shares of Enovis by 13.3% during the 4th quarter. First National Bank of Omaha now owns 41,348 shares of the company’s stock worth $2,316,000 after buying an additional 4,847 shares during the period. Finally, Quadrature Capital Ltd grew its stake in Enovis by 175.5% in the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock valued at $1,913,000 after buying an additional 21,760 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.