Enovis (NYSE:ENOV) Upgraded by BTIG Research to “Strong-Buy” Rating

Enovis (NYSE:ENOV) was upgraded by equities research analysts at BTIG Research to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

ENOV has been the topic of a number of other research reports. Evercore ISI set a $40.00 price objective on Enovis in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. UBS Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday. Finally, Canaccord Genuity Group lowered their target price on Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Enovis Trading Down 0.7%

ENOV stock opened at $27.73 on Tuesday. Enovis has a 12-month low of $25.47 and a 12-month high of $49.38. The business’s 50-day moving average is $28.42 and its 200 day moving average is $29.92. The company has a current ratio of 2.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -1.17 and a beta of 1.52.

Enovis (NYSE:ENOV) last announced its earnings results on Monday, January 8th. The company reported $0.59 EPS for the quarter. The business had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%. On average, sell-side analysts anticipate that Enovis will post 2.79 EPS for the current fiscal year.

Insider Transactions at Enovis

In other Enovis news, insider John Kleckner acquired 2,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the acquisition, the insider owned 12,302 shares of the company’s stock, valued at approximately $372,996.64. The trade was a 25.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel A. Pryor sold 999 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total value of $27,172.80. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Enovis

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Enovis by 353.5% during the 4th quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock worth $49,000 after purchasing an additional 1,446 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Enovis in the third quarter valued at about $358,000. Danske Bank A S purchased a new position in Enovis during the third quarter worth about $64,000. Verition Fund Management LLC increased its position in shares of Enovis by 22.4% during the third quarter. Verition Fund Management LLC now owns 55,066 shares of the company’s stock valued at $1,671,000 after acquiring an additional 10,060 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Enovis by 90.8% during the third quarter. Millennium Management LLC now owns 336,339 shares of the company’s stock valued at $10,205,000 after acquiring an additional 160,060 shares during the last quarter. Institutional investors and hedge funds 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.