Enovis (NYSE:ENOV) Stock Price Target Raised at BTIG Research

Enovis (NYSE:ENOV) had its price objective hoisted by BTIG Research from $36.00 to $42.00 in a report issued on Thursday morning, MarketBeat Ratings reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reduced their price target on Enovis from $52.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Citigroup reiterated a “market outperform” rating on shares of Enovis in a report on Wednesday, September 2nd. Citizens Jmp lowered their price objective on Enovis from $55.00 to $47.00 and set a “market outperform” rating for the company in a research report on Wednesday, September 2nd. Canaccord Genuity Group dropped their target price on Enovis from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Finally, Wells Fargo & Company dropped their target price on Enovis from $39.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Enovis Stock Up 16.7%

Shares of Enovis stock opened at $28.50 on Thursday. The firm’s 50 day moving average price is $19.86 and its 200-day moving average price is $23.07. The company has a quick ratio of 1.00, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. Enovis has a 52-week low of $16.70 and a 52-week high of $32.41. The company has a market cap of $1.64 billion, a P/E ratio of -1.48 and a beta of 1.31.

Enovis (NYSE:ENOV) last posted its earnings results on Thursday, November 5th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The company had revenue of $558.73 million during the quarter, compared to analysts’ expectations of $557.12 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Enovis’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Enovis will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Oliver Engert purchased 5,140 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was acquired at an average price of $19.46 per share, with a total value of $100,024.40. Following the completion of the acquisition, the insider owned 61,238 shares in the company, valued at approximately $1,191,691.48. This represents a 9.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Damien Mcdonald purchased 13,035 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $19.15 per share, with a total value of $249,620.25. Following the acquisition, the chief executive officer owned 247,077 shares of the company’s stock, valued at approximately $4,731,524.55. The trade was a 5.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 23,293 shares of company stock worth $449,599 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enovis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENOV. Paradigm Capital Management Inc. NY lifted its stake in Enovis by 70.2% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company’s stock valued at $40,420,000 after acquiring an additional 732,917 shares during the period. Private Management Group Inc. boosted its holdings in shares of Enovis by 31.3% in the 3rd quarter. Private Management Group Inc. now owns 1,792,429 shares of the company’s stock valued at $32,748,000 after acquiring an additional 427,347 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Enovis by 38.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,045,360 shares of the company’s stock worth $24,430,000 after acquiring an additional 287,687 shares during the period. Front Street Capital Management Inc. increased its stake in shares of Enovis by 106.1% in the first quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock worth $16,973,000 after acquiring an additional 384,124 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Enovis by 130.8% in the first quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock worth $13,752,000 after acquiring an additional 342,556 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Key Headlines Impacting Enovis

Here are the key news stories impacting Enovis this week:

• Positive Sentiment: Enovis reported adjusted earnings of $0.88 per share, beating analyst estimates of roughly $0.76–$0.77 and rising from $0.75 a year earlier. Revenue of $558.7 million also edged past forecasts. Enovis Climbs on Swing to 3Q Profit, Higher Sales
• Positive Sentiment: The company announced a $200 million share-repurchase program, which may support per-share results and signal management confidence. Enovis announces $200 million equity buyback
• Positive Sentiment: Analysts raised their targets and maintained Buy ratings: Needham lifted its target to $38 from $34, while BTIG raised its target to $42 from $36. These revisions reflect a more favorable outlook after the quarterly results. Read More. · Read More.
• Neutral Sentiment: Revenue grew just 1.8% year over year and was close to expectations, so the earnings beat—not strong sales acceleration—appears to be the main results catalyst.

Enovis Company Profile

Enovis Corporation (NYSE: ENOV) is a medical technology company that develops, manufactures and distributes products designed to improve patient recovery, mobility and quality of life. Its portfolio serves orthopedic, sports medicine, physical therapy and rehabilitation markets, as well as other areas of musculoskeletal care.

The company’s products include orthopedic implants and surgical technologies, braces and supports, cold and compression therapy systems, electrotherapy and rehabilitation equipment, and other solutions used by hospitals, surgeons, physical therapists, athletic trainers and patients.