Enovis (NYSE:ENOV) Director Buys 874 Shares of Company Stock

Key Points

• Director Sharon Wienbar bought 874 Enovis shares for about $24,848, increasing her holdings by 2% to 44,651 shares.
• Enovis beat quarterly earnings expectations, reporting $0.88 per share versus analysts’ $0.77 estimate; revenue was $558.7 million, up 1.8% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $38.62, while shares fell 3.2% in Thursday’s midday trading.

Enovis Corporation (NYSE:ENOV - Get Free Report) Director Sharon Wienbar bought 874 shares of the stock in a transaction dated Tuesday, November 10th. The stock was bought at an average price of $28.43 per share, with a total value of $24,847.82. Following the purchase, the director owned 44,651 shares of the company's stock, valued at approximately $1,269,427.93. This represents a 2.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Enovis Stock Down 3.2%

Enovis stock traded down $0.92 during midday trading on Thursday, hitting $27.63. 1,153,270 shares of the company were exchanged, compared to its average volume of 1,886,113. The company's fifty day moving average price is $20.36 and its 200-day moving average price is $23.19. The company has a market cap of $1.59 billion, a PE ratio of -3.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.15 and a quick ratio of 1.08. Enovis Corporation has a fifty-two week low of $16.70 and a fifty-two week high of $31.81.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.11. Enovis had a positive return on equity of 13.23% and a negative net margin of 22.86%. The firm had revenue of $558.73 million during the quarter, compared to analysts' expectations of $557.12 million. During the same quarter in the prior year, the business earned $0.75 EPS. Enovis's quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ENOV shares. UBS Group restated a "buy" rating and issued a $44.00 target price on shares of Enovis in a research note on Monday, October 5th. Zacks Research raised shares of Enovis from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Citigroup reiterated a "market outperform" rating on shares of Enovis in a research note on Wednesday, September 2nd. BTIG Research raised their price objective on Enovis from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, November 5th. Finally, Weiss Ratings upgraded Enovis from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, November 2nd. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.62.

Institutional Trading of Enovis

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in Enovis during the 2nd quarter valued at $11,502,000. First National Bank of Omaha bought a new stake in shares of Enovis in the 2nd quarter worth about $1,250,000. Legal & General Group Plc bought a new stake in shares of Enovis in the 2nd quarter worth about $2,753,000. Man Group plc bought a new stake in shares of Enovis in the 2nd quarter worth about $8,711,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Enovis in the 2nd quarter valued at about $2,346,000. 98.45% of the stock is owned by institutional investors and hedge funds.

About Enovis

Enovis is a medical technology company that develops products and solutions for orthopedic care, surgery, recovery and rehabilitation. Its offerings include joint replacement implants, foot and ankle products, surgical instruments, orthopedic braces and supports, and rehabilitation equipment. The company serves healthcare providers and patients in markets around the world. Its products are designed to support treatment across different stages of musculoskeletal care, from surgical intervention to recovery and mobility.

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