Enovis (NYSE:ENOV) Trading Down 5.5% – Time to Sell?

Shares of Enovis Co. (NYSE:ENOV) fell 5.5% during trading on Tuesday . The stock traded as low as $35.14 and last traded at $35.76. 590,324 shares changed hands during trading, a decline of 41% from the average session volume of 1,003,003 shares. The stock had previously closed at $37.86.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC cut their price target on shares of Enovis from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th.

Enovis Trading Down 3.3 %

The company has a market capitalization of $2.09 billion, a PE ratio of -16.72 and a beta of 1.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The business has a fifty day moving average price of $44.61 and a 200 day moving average price of $44.24.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $560.98 million for the quarter, compared to analyst estimates of $555.14 million. Analysts expect that Enovis Co. will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its position in Enovis by 1,076.7% in the third quarter. Raymond James & Associates now owns 56,692 shares of the company’s stock valued at $2,441,000 after purchasing an additional 51,874 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Enovis by 9.9% in the third quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock valued at $667,000 after buying an additional 1,400 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Enovis during the 3rd quarter valued at about $55,000. State of Alaska Department of Revenue lifted its position in Enovis by 20.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock worth $279,000 after acquiring an additional 1,115 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Enovis by 29.1% in the 3rd quarter. US Bancorp DE now owns 17,962 shares of the company’s stock worth $773,000 after acquiring an additional 4,050 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.