Canaccord Genuity Group Has Lowered Expectations for Enovis (NYSE:ENOV) Stock Price

Enovis (NYSE:ENOV) had its price target dropped by analysts at Canaccord Genuity Group from $70.00 to $58.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 103.58% from the company’s previous close.

ENOV has been the subject of a number of other reports. JMP Securities lowered their price target on Enovis from $62.00 to $55.00 and set a “market outperform” rating for the company in a research note on Friday, May 9th. Wells Fargo & Company lowered their price target on Enovis from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday. Evercore ISI lowered their target price on Enovis from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. UBS Group lowered their target price on Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday. Finally, Needham & Company LLC lowered their target price on Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Enovis currently has a consensus rating of “Buy” and a consensus price target of $51.00.

Enovis Stock Performance

Enovis stock opened at $28.49 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.53. Enovis has a 1 year low of $25.47 and a 1 year high of $49.83. The company has a market cap of $1.63 billion, a PE ratio of -2.00 and a beta of 1.70. The company’s 50-day moving average is $30.54 and its two-hundred day moving average is $35.23.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company had revenue of $564.50 million for the quarter, compared to the consensus estimate of $555.80 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Enovis will post 2.79 earnings per share for the current year.

Institutional Trading of Enovis

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its position in Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 536 shares during the last quarter. Quarry LP boosted its position in Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 749 shares during the last quarter. GAMMA Investing LLC boosted its position in Enovis by 144.8% during the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock worth $45,000 after acquiring an additional 692 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Enovis by 57.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company’s stock worth $74,000 after acquiring an additional 725 shares during the last quarter. 98.45% of the stock is owned by 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.