Insider Buying: Enovis (NYSE:ENOV) Director Purchases $24,987.85 in Stock

Enovis Corporation (NYSE:ENOV) Director Sharon Wienbar bought 907 shares of Enovis stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of $27.55 per share, for a total transaction of $24,987.85. Following the acquisition, the director directly owned 42,853 shares of the company’s stock, valued at $1,180,600.15. The trade was a 2.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Enovis Price Performance

ENOV stock opened at $27.63 on Friday. The stock has a 50-day moving average price of $20.36 and a two-hundred day moving average price of $23.19. Enovis Corporation has a 12-month low of $16.70 and a 12-month high of $31.81. The company has a current ratio of 2.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.59 billion, a PE ratio of -3.00 and a beta of 1.31.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.77 by $0.11. The company had revenue of $558.73 million during the quarter, compared to analyst estimates of $557.12 million. Enovis had a positive return on equity of 13.23% and a negative net margin of 22.86%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, research analysts predict that Enovis Corporation will post 3.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Enovis from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC boosted their price objective on shares of Enovis from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Canaccord Genuity Group dropped their price objective on shares of Enovis from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 6th. BMO Capital Markets set a $27.00 target price on shares of Enovis in a research note on Tuesday, September 1st. Finally, BTIG Research lifted their target price on shares of Enovis from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Ten research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ENOV. First Trust Advisors LP grew its stake in shares of Enovis by 60.2% during the third quarter. First Trust Advisors LP now owns 100,117 shares of the company’s stock valued at $1,829,000 after acquiring an additional 37,636 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Enovis by 66.0% in the third quarter. Public Sector Pension Investment Board now owns 328,148 shares of the company’s stock worth $6,223,000 after acquiring an additional 130,436 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Enovis by 477.1% in the third quarter. Intech Investment Management LLC now owns 70,796 shares of the company’s stock worth $1,293,000 after acquiring an additional 58,528 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in Enovis in the third quarter valued at about $238,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in Enovis by 22.4% in the third quarter. Illinois Municipal Retirement Fund now owns 38,366 shares of the company’s stock valued at $701,000 after purchasing an additional 7,028 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

More Enovis News

These are some of the ENOV news items that stood out recently:

• Positive Sentiment: Directors Angela S. Lalor and Sharon L. Wienbar reported purchases on November 10 and 11, totaling 3,531 shares worth about $100,000. The buying may bolster investor confidence, although the transactions are relatively modest and do not guarantee future performance. Lalor SEC filing Wienbar SEC filing
• Neutral Sentiment: Enovis said management will present at the Jefferies Global Healthcare Conference in London on November 17. The announcement provides an opportunity for investors to hear from management but disclosed no new financial guidance or business developments. Conference announcement

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.