Enovis Corporation (NYSE:ENOV) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Enovis, with 10 buy ratings, one hold and one sell. The average 12-month price target is $40.38, although several firms recently lowered their targets.
• Enovis insiders purchased 24,293 shares worth approximately $470,519 over the past 90 days, while institutional investors own 98.45% of the company’s stock.
• ENOV opened at $19.54, near its 52-week low of $18.08. In its latest quarter, Enovis beat earnings estimates with $0.90 EPS and reported revenue of $582.78 million, up 3.2% year over year.

Enovis Corporation (NYSE:ENOV - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $40.3750.

Several equities research analysts have weighed in on ENOV shares. Citigroup reissued a "market outperform" rating on shares of Enovis in a research note on Wednesday, September 2nd. Weiss Ratings upgraded Enovis from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. BMO Capital Markets set a $27.00 price objective on shares of Enovis in a research report on Tuesday, September 1st. Wells Fargo & Company cut their price target on shares of Enovis from $39.00 to $33.00 and set an "overweight" rating on the stock in a report on Wednesday, September 2nd. Finally, BTIG Research reduced their price objective 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.

Insider Buying and Selling

In other Enovis news, CEO Damien Mcdonald purchased 13,035 shares of Enovis stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $19.15 per share, for a total transaction of $249,620.25. Following the completion of the acquisition, the chief executive officer owned 247,077 shares in the company, valued at $4,731,524.55. This represents a 5.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Oliver Engert purchased 5,140 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were acquired at an average cost of $19.46 per share, with a total value of $100,024.40. Following the completion of the purchase, the insider directly owned 61,238 shares in the company, valued at $1,191,691.48. The trade was a 9.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 24,293 shares of company stock worth $470,519. Insiders own 2.90% of the company's stock.

Institutional Trading of Enovis

A number of large investors have recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new stake in shares of Enovis in the third quarter valued at approximately $83,435,000. Paradigm Capital Management Inc. NY purchased a new position in Enovis during the 2nd quarter worth $28,533,000. California State Teachers Retirement System raised its position in Enovis by 1,635.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,335,833 shares of the company's stock valued at $27,652,000 after purchasing an additional 1,258,867 shares in the last quarter. Bank of America Corp DE bought a new stake in Enovis during the 2nd quarter valued at $11,502,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Enovis by 682.6% in the 2nd quarter. AQR Capital Management LLC now owns 498,317 shares of the company's stock worth $15,627,000 after buying an additional 434,646 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Price Performance

ENOV stock opened at $19.54 on Friday. Enovis has a 52 week low of $18.08 and a 52 week high of $34.28. The firm has a market capitalization of $1.13 billion, a P/E ratio of -1.01 and a beta of 1.31. The company has a fifty day simple moving average of $25.25 and a two-hundred day simple moving average of $24.10. The company has a quick ratio of 1.00, a current ratio of 1.98 and a debt-to-equity ratio of 0.84.

Enovis (NYSE:ENOV - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $582.78 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Analysts anticipate that Enovis will post 3.15 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.