Wall Street Zen Downgrades Enovis (NYSE:ENOV) to Hold

Enovis (NYSE:ENOV) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Other equities research analysts have also issued research reports about the company. Zacks Research raised Enovis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. BTIG Research upped their price target on shares of Enovis from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 26th. UBS Group restated a “buy” rating and set a $50.00 price objective on shares of Enovis in a report on Monday, January 5th. Needham & Company LLC upped their target price on shares of Enovis from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wells Fargo & Company raised Enovis to a “strong-buy” rating in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Enovis has a consensus rating of “Buy” and a consensus target price of $47.43.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $22.43 on Friday. The firm’s 50 day simple moving average is $23.17 and its 200 day simple moving average is $27.43. Enovis has a fifty-two week low of $21.00 and a fifty-two week high of $40.69. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -1.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.02 and a quick ratio of 1.04.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. The company had revenue of $575.76 million during the quarter, compared to analyst estimates of $584.30 million. Enovis had a negative net margin of 52.69% and a positive return on equity of 8.74%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, sell-side analysts forecast that Enovis will post 2.79 earnings per share for the current year.

Insider Buying and Selling

In other Enovis news, insider Oliver Engert acquired 1,000 shares of Enovis stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $25,500.00. Following the purchase, the insider directly owned 43,640 shares in the company, valued at approximately $1,112,820. This represents a 2.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have bought 5,000 shares of company stock worth $121,983. Insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new position in Enovis during the third quarter valued at approximately $83,435,000. Tributary Capital Management LLC boosted its holdings in shares of Enovis by 91.5% in the 3rd quarter. Tributary Capital Management LLC now owns 1,154,482 shares of the company’s stock valued at $35,027,000 after buying an additional 551,613 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Enovis by 682.6% in the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock valued at $15,627,000 after buying an additional 434,646 shares in the last quarter. Boston Partners increased its holdings in Enovis by 42.4% during the second quarter. Boston Partners now owns 1,382,724 shares of the company’s stock worth $43,352,000 after buying an additional 411,744 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Enovis by 43.8% during the second quarter. Geode Capital Management LLC now owns 1,342,481 shares of the company’s stock worth $42,105,000 after acquiring an additional 408,608 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.