Enovis Corporation (NYSE:ENOV) Receives $51.00 Average PT from Brokerages

Shares of Enovis Corporation (NYSE:ENOV) have been given a consensus rating of “Buy” by the six analysts that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $51.00.

Several brokerages have recently weighed in on ENOV. Canaccord Genuity Group decreased their target price on shares of Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company reduced their target price on shares of Enovis from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Evercore ISI lowered their price target on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Needham & Company LLC reduced their price objective on shares of Enovis from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, UBS Group dropped their price objective on Enovis from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, August 8th.

Enovis Stock Up 0.7%

ENOV opened at $30.19 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The company has a market capitalization of $1.73 billion, a PE ratio of -2.12 and a beta of 1.68. Enovis has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The business has a 50-day moving average of $29.82 and a 200-day moving average of $32.26.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The business had revenue of $564.50 million for the quarter, compared to the consensus estimate of $555.80 million. During the same period last year, the business earned $0.62 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Equities research analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Insider Activity

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the completion of the transaction, the senior vice president owned 43,515 shares in the company, valued at approximately $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of $29.71 per share, with a total value of $74,275.00. Following the completion of the transaction, the chief financial officer owned 116,729 shares of the company’s stock, valued at $3,468,018.59. This represents a 2.19% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 12,157 shares of company stock worth $374,760 in the last quarter. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of Enovis by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,207,768 shares of the company’s stock worth $237,199,000 after purchasing an additional 44,632 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Enovis by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company’s stock worth $233,356,000 after acquiring an additional 621,069 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Enovis by 10.4% in the 1st quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company’s stock worth $116,489,000 after acquiring an additional 289,644 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Enovis by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,927,340 shares of the company’s stock worth $111,852,000 after acquiring an additional 27,894 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Enovis by 0.8% in the 1st quarter. Royce & Associates LP now owns 2,490,806 shares of the company’s stock valued at $95,174,000 after buying an additional 20,230 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.