Enovis (NYSE:ENOV) Price Target Raised to $42.00

Enovis (NYSE:ENOV) had its price target raised by Wells Fargo & Company from $41.00 to $42.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 7th. UBS Group cut their target price on shares of Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group decreased their price target on shares of Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.17.

Enovis Stock Performance

NYSE ENOV opened at $28.57 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $31.33 and its two-hundred day moving average is $31.45. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -2.01 and a beta of 1.67. Enovis has a 12-month low of $25.47 and a 12-month high of $49.75.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The firm had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%. Research analysts expect that Enovis will post 2.79 EPS for the current year.

Insider Activity

In other news, CEO Damien Mcdonald acquired 6,457 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were purchased at an average price of $30.97 per share, for a total transaction of $199,973.29. Following the completion of the purchase, the chief executive officer directly owned 102,753 shares of the company’s stock, valued at $3,182,260.41. This represents a 6.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Phillip Benjamin (Ben) Berry bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $29.71 per share, with a total value of $74,275.00. Following the transaction, the chief financial officer owned 116,729 shares in the company, valued at approximately $3,468,018.59. This represents a 2.19% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 12,157 shares of company stock valued at $374,760. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in Enovis by 42.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock valued at $37,000 after acquiring an additional 367 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after purchasing an additional 707 shares during the period. GAMMA Investing LLC grew its position in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $45,000 after buying an additional 692 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Enovis during the 2nd quarter valued at about $46,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Enovis by 30,340.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock worth $46,000 after buying an additional 1,517 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

About Enovis

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.