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Why Did Enovis Plunge 10.41% Amid Guidance Cut?
Generated by AI AgentAinvest Movers Radar
Friday, May 16, 2025 4:53 am ET1min read
On May 16, 2025,
experienced a significant drop of 10.41% in pre-market trading, raising concerns among investors and analysts alike.Needham & Company LLC recently revised their price target for Enovis, lowering it from $64.00 to $57.00 while maintaining a "buy" rating. This adjustment comes amidst a challenging period for the company, as its stock has declined by 22.5% over the past six months, currently trading at $31.96.
Canaccord Genuity also made changes to their financial outlook for Enovis, reducing the price target from $75.00 to $70.00. This adjustment reflects a 6.67% decrease and was made following the company's Q1 performance. The firm continues to hold a "buy" rating on the shares.
Enovis has also adjusted its guidance for the year, lowering its adjusted EBITDA by $20 million due to anticipated tariff impacts in the second half of 2025. This move has added to the uncertainty surrounding the company's financial health and future prospects.
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