Zacks Research Upgrades Enovis (NYSE:ENOV) to Strong-Buy

Enovis (NYSE:ENOV) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on ENOV. Canaccord Genuity Group decreased their target price on Enovis from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. BTIG Research raised their price objective on Enovis from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Needham & Company LLC boosted their price objective on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Evercore reaffirmed an “outperform” rating on shares of Enovis in a research report on Monday, January 12th. Finally, UBS Group reissued a “buy” rating and issued a $50.00 price target on shares of Enovis in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

Enovis Stock Down 5.8%

Enovis stock opened at $24.29 on Wednesday. The company has a market capitalization of $1.39 billion, a PE ratio of -1.17 and a beta of 1.46. Enovis has a 12-month low of $21.00 and a 12-month high of $40.69. The firm’s fifty day moving average is $24.15 and its 200 day moving average is $28.08. The company has a quick ratio of 1.04, a current ratio of 2.02 and a debt-to-equity ratio of 0.85.

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

Insider Buying and Selling

In related news, EVP Daniel A. Pryor sold 999 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total value of $27,172.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oliver Engert acquired 1,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were bought at an average price of $25.50 per share, for a total transaction of $25,500.00. Following the completion of the purchase, the insider owned 43,640 shares in the company, valued at approximately $1,112,820. This represents a 2.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,250 shares of company stock worth $56,545 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

Several institutional investors and hedge funds have recently made changes to their positions in ENOV. Rubric Capital Management LP purchased a new position in Enovis during the third quarter worth about $83,435,000. Tributary Capital Management LLC increased its stake in 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 lifted its position in shares of Enovis by 682.6% during the 2nd quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after buying an additional 434,646 shares in the last quarter. Boston Partners lifted its position in shares of Enovis by 42.4% during the 2nd 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 in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Enovis by 43.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,342,481 shares of the company’s stock worth $42,105,000 after buying an additional 408,608 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Company Profile

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.