Enovis (NYSE:ENOV) Shares Gap Up on Insider Buying Activity

Key Points

• Enovis shares opened higher, at $28.65 versus the prior close of $27.64, after reported insider buying; the stock later traded at $28.36.
• Director Angela S. Lalor bought a total of 1,757 shares across two transactions on November 10–11 for about $50,200, increasing her holdings.
• Analysts rate ENOV a “Moderate Buy” on average, with a consensus price target of $38.62. Its latest quarterly EPS of $0.88 topped estimates of $0.77, while revenue slightly exceeded expectations.

Enovis Corporation (NYSE:ENOV - Get Free Report) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $27.64, but opened at $28.65. Enovis shares last traded at $28.3610, with a volume of 65,747 shares trading hands.

Specifically, Director Angela S. Lalor bought 870 shares of the business's stock in a transaction on Wednesday, November 11th. The stock was bought at an average price of $28.86 per share, for a total transaction of $25,108.20. Following the completion of the transaction, the director owned 33,243 shares in the company, valued at approximately $959,392.98. The trade was a 2.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Angela S. Lalor purchased 887 shares of Enovis stock in a transaction on Tuesday, November 10th. The stock was acquired at an average cost of $28.28 per share, for a total transaction of $25,084.36. Following the acquisition, the director directly owned 32,373 shares of the company's stock, valued at approximately $915,508.44. This represents a 2.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

ENOV has been the topic of a number of recent research reports. BMO Capital Markets set a $27.00 target price on Enovis in a research note on Tuesday, September 1st. BTIG Research raised their price target on Enovis from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Citigroup reissued a "market outperform" rating on shares of Enovis in a report on Wednesday, September 2nd. Zacks Research upgraded Enovis from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Citizens Jmp decreased their price objective on Enovis from $55.00 to $47.00 and set a "market outperform" rating on the stock in a research note on Wednesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.62.

Enovis News Roundup

Investors following ENOV have been watching these news items:

• Positive Sentiment: Directors Angela S. Lalor and Sharon Wienbar bought a combined 3,531 shares for roughly $100,000 in purchases dated November 10–11, increasing their holdings. Insider buying can indicate confidence, though the transactions are relatively small and are not a guarantee of future performance. Lalor SEC filing Wienbar SEC filing
• Neutral Sentiment: Enovis management is scheduled to present at the Jefferies Global Healthcare Conference in London on November 17. The event could provide investors with additional context, but the announcement included no new guidance or business details. Conference announcement

Enovis Price Performance

The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.05 and a beta of 1.31. The company has a quick ratio of 1.08, a current ratio of 2.15 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $23.19.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ENOV. Allworth Financial LP grew 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 buying an additional 652 shares during the period. IFP Advisors Inc raised its stake in shares of Enovis by 5,590.5% in the 2nd quarter. IFP Advisors Inc now owns 1,195 shares of the company's stock valued at $25,000 after acquiring an additional 1,174 shares during the period. Inspire Investing LLC lifted its holdings in shares of Enovis by 4.9% during the 3rd quarter. Inspire Investing LLC now owns 34,833 shares of the company's stock valued at $636,000 after acquiring an additional 1,631 shares in the last quarter. Amundi lifted its holdings in shares of Enovis by 2.3% during the 1st quarter. Amundi now owns 74,184 shares of the company's stock valued at $1,688,000 after acquiring an additional 1,677 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Enovis by 9.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,117 shares of the company's stock valued at $437,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Enovis Company Profile

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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