Enovis (NYSE:ENOV) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Enovis (NYSE:ENOV) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued a neutral rating and a $53.00 target price on the stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Enovis from $73.00 to $75.00 and gave the stock a buy rating in a report on Friday, February 23rd. Needham & Company LLC restated a buy rating and set a $82.00 price target on shares of Enovis in a report on Friday, May 3rd. Finally, Wells Fargo & Company increased their price target on Enovis from $73.00 to $79.00 and gave the company an overweight rating in a report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $72.63.

Enovis Trading Down 0.2 %

Shares of NYSE:ENOV opened at $44.84 on Thursday. The stock has a 50 day moving average of $52.28 and a 200 day moving average of $56.13. The company has a market cap of $2.46 billion, a PE ratio of -29.89 and a beta of 1.94. The company has a current ratio of 2.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. Enovis has a 12-month low of $43.04 and a 12-month high of $66.14.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The company had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts expect that Enovis will post 2.62 EPS for the current year.

Hedge Funds Weigh In On Enovis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Enovis during the first quarter worth about $34,000. Principal Securities Inc. acquired a new position in Enovis in the fourth quarter valued at approximately $41,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Enovis by 97.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock valued at $47,000 after acquiring an additional 417 shares during the period. GAMMA Investing LLC acquired a new position in Enovis in the fourth quarter valued at approximately $53,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Enovis in the third quarter valued at approximately $101,000. Hedge funds and other institutional investors 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.