Enovis (NYSE:ENOV) Reaches New 1-Year Low on Analyst Downgrade

Enovis Co. (NYSE:ENOV)’s stock price hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $65.00 to $64.00. Needham & Company LLC currently has a buy rating on the stock. Enovis traded as low as $38.17 and last traded at $38.25, with a volume of 725459 shares. The stock had previously closed at $40.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ENOV. Raymond James & Associates raised its holdings in shares of Enovis by 1,076.7% during the third quarter. Raymond James & Associates now owns 56,692 shares of the company’s stock worth $2,441,000 after purchasing an additional 51,874 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Enovis by 9.9% in the third quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $667,000 after purchasing an additional 1,400 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Enovis during the 3rd quarter valued at about $55,000. State of Alaska Department of Revenue boosted its stake in Enovis by 20.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock valued at $279,000 after purchasing an additional 1,115 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Enovis by 29.1% during the third quarter. US Bancorp DE now owns 17,962 shares of the company’s stock worth $773,000 after acquiring an additional 4,050 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.17 billion, a P/E ratio of -17.42 and a beta of 1.94. The business’s fifty day moving average is $44.90 and its 200 day moving average is $44.34.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The firm had revenue of $560.98 million for the quarter, compared to analysts’ expectations of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. As a group, analysts forecast that Enovis Co. will post 2.79 EPS for the current year.

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.