Enovis (NYSE:ENOV) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Enovis to “Hold” from “Buy,” though the broader analyst consensus remains “Moderate Buy,” with an average price target of $40.38.
• Enovis shares opened at $18.03, near their 12-month low of $17.30 and well below the 12-month high of $34.28. The company recently exceeded quarterly earnings expectations, reporting $0.90 EPS versus the $0.85 consensus and 3.2% year-over-year revenue growth.
• Company insiders have been buying shares, including CEO Damien McDonald’s purchase of 13,035 shares and insider Oliver Engert’s purchase of 2,660 shares; insiders acquired $449,599 worth of stock over the past 90 days.

Enovis (NYSE:ENOV - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on ENOV. Citigroup restated a "market outperform" rating on shares of Enovis in a research report on Wednesday, September 2nd. BTIG Research dropped their target price on shares of Enovis from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, September 1st. Wells Fargo & Company cut their target price on shares of Enovis from $39.00 to $33.00 and set an "overweight" rating for the company in a research note on Wednesday, September 2nd. BMO Capital Markets set a $27.00 price target on shares of Enovis in a research report on Tuesday, September 1st. Finally, Evercore set a $32.00 price target on shares of Enovis in a research note on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.38.

Enovis Stock Performance

Shares of ENOV stock opened at $18.03 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84. Enovis has a 12-month low of $17.30 and a 12-month high of $34.28. The business's 50 day moving average is $24.55 and its two-hundred day moving average is $23.90. The company has a market capitalization of $1.04 billion, a P/E ratio of -0.94 and a beta of 1.31.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. Enovis had a positive return on equity of 12.03% and a negative net margin of 47.96%.The business had revenue of $582.78 million during the quarter, compared to analysts' expectations of $581.84 million. During the same period in the previous year, the business earned $0.79 earnings per share. The business's revenue was up 3.2% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Analysts expect that Enovis will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling at Enovis

In other Enovis news, insider Oliver Engert bought 2,660 shares of the stock in a transaction on Friday, September 4th. The shares were bought at an average price of $18.80 per share, with a total value of $50,008.00. Following the purchase, the insider directly owned 63,898 shares in the company, valued at $1,201,282.40. This trade represents a 4.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Damien Mcdonald bought 13,035 shares of the company's stock in a transaction dated Friday, September 4th. The shares were acquired at an average cost of $19.15 per share, with a total value of $249,620.25. Following the acquisition, the chief executive officer directly owned 247,077 shares of the company's stock, valued at approximately $4,731,524.55. This represents a 5.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 23,293 shares of company stock worth $449,599. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Enovis

Several large investors have recently bought and sold shares of ENOV. Integrated Wealth Concepts LLC acquired a new position in Enovis in the second quarter valued at approximately $39,000. IFP Advisors Inc increased its stake in Enovis by 5,590.5% during the second quarter. IFP Advisors Inc now owns 1,195 shares of the company's stock worth $25,000 after acquiring an additional 1,174 shares during the last quarter. Allworth Financial LP increased its stake in Enovis by 59.7% during the second quarter. Allworth Financial LP now owns 1,744 shares of the company's stock worth $36,000 after acquiring an additional 652 shares during the last quarter. Amundi raised its position in Enovis by 397.7% in the second quarter. Amundi now owns 369,189 shares of the company's stock valued at $7,642,000 after purchasing an additional 295,005 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Enovis in the second quarter valued at $559,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Enovis Company Profile

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company's product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.

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