Canaccord Genuity Group Lowers Enovis (NYSE:ENOV) Price Target to $45.00

Key Points

• Canaccord Genuity Group lowered Enovis’s price target from $50 to $45 while maintaining a “buy” rating, implying 72.53% potential upside from the stock’s $26.08 price. Analysts overall rate the stock “Moderate Buy,” with an average target of $41.29.
• Enovis exceeded quarterly expectations, reporting $0.90 EPS versus the $0.85 consensus and $582.78 million in revenue, up 3.2% year over year. The company issued fiscal 2026 EPS guidance of $3.52 to $3.73.
• Institutional investors own 98.45% of Enovis, while insiders have recently purchased shares, including 4,200 shares bought over the last quarter.

Enovis (NYSE:ENOV - Get Free Report) had its target price dropped by Canaccord Genuity Group from $50.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 72.53% from the stock's current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on Enovis from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Wall Street Zen lowered Enovis from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Enovis from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Evercore set a $32.00 price objective on shares of Enovis in a research report on Monday, July 6th. Finally, BTIG Research increased their target price on Enovis from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.29.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $26.08 on Monday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -1.35 and a beta of 1.34. The firm's 50 day simple moving average is $24.89 and its 200 day simple moving average is $24.03. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.00. Enovis has a fifty-two week low of $19.14 and a fifty-two week high of $34.28.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $582.78 million during the quarter, compared to analysts' expectations of $581.84 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, sell-side analysts forecast that Enovis will post 3.12 earnings per share for the current year.

Insider Buying and Selling at Enovis

In related news, insider Oliver Engert purchased 1,200 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $21.62 per share, with a total value of $25,944.00. Following the transaction, the insider directly owned 51,840 shares of the company's stock, valued at $1,120,780.80. This trade represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 4,200 shares of company stock worth $92,084. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Enovis

A number of institutional investors have recently added to or reduced their stakes in ENOV. Arax Advisory Partners acquired a new stake in Enovis in the fourth quarter valued at $29,000. Allworth Financial LP bought a new position in Enovis during the second quarter worth about $36,000. EverSource Wealth Advisors LLC increased its position in Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company's stock worth $40,000 after buying an additional 707 shares during the last quarter. Danske Bank A S bought a new stake in Enovis in the third quarter valued at approximately $64,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Enovis in the third quarter valued at approximately $80,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About Enovis

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.

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