Enovis Corporation (NYSE:ENOV) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Enovis Corporation (NYSE:ENOV) has received a consensus rating of “Moderate Buy” from seven analysts, with one sell rating and six buy ratings.
• The average price target for Enovis stock among analysts is $51.00, reflecting recent adjustments from various research firms.
• Insider transactions indicate confidence in the company's future, with significant stock purchases made by both the SVP and CEO in recent months.

Enovis Corporation (NYSE:ENOV - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $51.00.

A number of research firms have recently issued reports on ENOV. Weiss Ratings restated a "sell (d-)" rating on shares of Enovis in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Canaccord Genuity Group dropped their price target on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Evercore ISI dropped their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Needham & Company LLC dropped their price target on Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th.

Enovis Price Performance

Shares of NYSE ENOV opened at $32.28 on Wednesday. The firm has a market cap of $1.84 billion, a P/E ratio of -2.26 and a beta of 1.69. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $31.03 and a 200 day moving average of $31.53. Enovis has a twelve month low of $25.47 and a twelve month high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The firm had revenue of $383.81 million for the quarter. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%. As a group, research analysts expect that Enovis will post 2.79 EPS for the current fiscal year.

Insider Transactions at Enovis

In related news, SVP Bradley J. Tandy acquired 3,200 shares of Enovis stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the purchase, the senior vice president directly owned 43,515 shares of the company's stock, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Damien Mcdonald acquired 6,457 shares of Enovis stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $30.97 per share, with a total value of $199,973.29. Following the completion of the purchase, the chief executive officer directly owned 102,753 shares in the company, valued at $3,182,260.41. This represents a 6.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 12,157 shares of company stock worth $374,760 in the last three months. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Enovis by 266.7% in the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Enovis by 125.4% in the 2nd 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 period. Elevation Point Wealth Partners LLC bought a new position in Enovis in the 2nd quarter worth $46,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Enovis by 30,340.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company's stock worth $46,000 after buying an additional 1,517 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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