Enovis (NYSE:ENOV) Shares Gap Down – Time to Sell?

Shares of Enovis Co. (NYSE:ENOV) gapped down before the market opened on Wednesday . The stock had previously closed at $37.18, but opened at $35.81. Enovis shares last traded at $35.07, with a volume of 101,103 shares traded.

Analyst Ratings Changes

Separately, Needham & Company LLC lowered their price objective on Enovis from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

Enovis Price Performance

The company has a 50 day moving average price of $41.68 and a 200-day moving average price of $43.27. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -16.08 and a beta of 2.05.

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

Hedge Funds Weigh In On Enovis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Enovis in the fourth quarter worth about $29,000. Quadrant Capital Group LLC increased its position in shares of Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. UMB Bank n.a. lifted its position in Enovis by 128.2% during the fourth quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Enovis by 54.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company’s stock worth $37,000 after acquiring an additional 300 shares during the last quarter. Finally, Quarry LP raised its position in Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company’s stock valued at $39,000 after purchasing an additional 749 shares in the last quarter. 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.