Enovis (NYSE:ENOV) Stock Price Down 3.3% - Here's What Happened

Key Points

• Enovis shares fell 3.3% to about $18.04 in thin mid-day trading, with volume down 96% from the stock’s average daily volume.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $40.38. The company also exceeded quarterly EPS and revenue expectations, reporting $0.90 EPS and $582.78 million in revenue.
• Insiders and institutional investors have been buying: executives purchased 23,293 shares over the past three months, while institutional investors and hedge funds own 98.45% of the stock.

Enovis Corporation (NYSE:ENOV - Get Free Report)'s share price traded down 3.3% on Thursday . The stock traded as low as $18.21 and last traded at $18.0420. Approximately 40,974 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 1,166,222 shares. The stock had previously closed at $18.66.

Wall Street Analysts Forecast Growth

ENOV has been the topic of a number of research reports. Citigroup restated a "market outperform" rating on shares of Enovis in a research note on Wednesday, September 2nd. Citizens Jmp decreased their price objective on Enovis from $55.00 to $47.00 and set a "market outperform" rating for the company in a report on Wednesday, September 2nd. UBS Group restated a "buy" rating and set a $51.00 target price (up from $50.00) on shares of Enovis in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Enovis from a "hold" rating to a "buy" rating in a report on Saturday, September 12th. Finally, Evercore set a $32.00 price target on shares of Enovis in a research note on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.38.

Enovis Stock Down 2.4%

The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.94 and a beta of 1.31. The firm's 50 day simple moving average is $24.85 and its 200-day simple moving average is $24.00.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The company had revenue of $582.78 million during the quarter, compared to analysts' expectations of $581.84 million. During the same quarter last year, the business earned $0.79 EPS. The business's revenue was up 3.2% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, sell-side analysts anticipate that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Enovis news, CEO Damien Mcdonald bought 13,035 shares of the business's stock in a transaction dated Friday, September 4th. The stock was acquired at an average cost of $19.15 per share, with a total value of $249,620.25. Following the purchase, the chief executive officer owned 247,077 shares in the company, valued at approximately $4,731,524.55. This represents a 5.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Oliver Engert purchased 5,140 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average price of $19.46 per share, for a total transaction of $100,024.40. Following the completion of the purchase, the insider owned 61,238 shares of the company's stock, valued at approximately $1,191,691.48. This represents a 9.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 23,293 shares of company stock valued at $449,599. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Enovis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY lifted its stake in shares of Enovis by 70.2% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company's stock valued at $40,420,000 after purchasing an additional 732,917 shares during the period. River Road Asset Management LLC increased its holdings in Enovis by 3.2% in the fourth quarter. River Road Asset Management LLC now owns 1,487,277 shares of the company's stock valued at $39,621,000 after buying an additional 46,289 shares in the last quarter. Private Management Group Inc. lifted its position in shares of Enovis by 38.8% during the 2nd quarter. Private Management Group Inc. now owns 1,365,082 shares of the company's stock valued at $28,257,000 after acquiring an additional 381,705 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Enovis by 38.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,045,360 shares of the company's stock worth $24,430,000 after acquiring an additional 287,687 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Enovis by 14.6% during the 4th quarter. Royce & Associates LP now owns 826,848 shares of the company's stock worth $22,027,000 after acquiring an additional 105,608 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Company Profile

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company's product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.

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.