Enovis (NYSE:ENOV) Stock Price Down 6.9% – Here’s Why

Enovis Corporation (NYSE:ENOV)’s share price dropped 6.9% on Wednesday . The company traded as low as $22.97 and last traded at $22.6160. Approximately 324,629 shares changed hands during trading, a decline of 69% from the average daily volume of 1,042,034 shares. The stock had previously closed at $24.28.

Analyst Upgrades and Downgrades

ENOV has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $39.00 target price on shares of Enovis in a research report on Friday, May 22nd. Evercore restated an “outperform” rating and set a $36.00 price target on shares of Enovis in a research note on Friday, May 8th. William Blair assumed coverage on shares of Enovis in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Needham & Company LLC upped their price target on shares of Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Enovis Stock Down 4.6%

The company has a market capitalization of $1.33 billion, a PE ratio of -1.16 and a beta of 1.41. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 2.04. The stock’s 50 day moving average is $24.05 and its 200 day moving average is $25.18.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $589.15 million for the quarter, compared to analysts’ expectations of $572.02 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. Enovis’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, sell-side analysts anticipate that Enovis Corporation will post 3.65 EPS for the current fiscal year.

Insider Transactions at Enovis

In other news, insider Oliver Engert bought 1,000 shares of the stock in a transaction on Friday, February 27th. The shares were acquired 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 of the company’s stock, valued at $1,112,820. This trade represents a 2.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 5,000 shares of company stock valued at $121,983. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Enovis

Several institutional investors and hedge funds have recently bought and sold shares of the company. Front Street Capital Management Inc. lifted its stake in Enovis by 106.1% in the 1st quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock worth $16,973,000 after purchasing an additional 384,124 shares in the last quarter. Amundi lifted its stake in Enovis by 2.3% in the 1st quarter. Amundi now owns 74,184 shares of the company’s stock worth $1,688,000 after purchasing an additional 1,677 shares in the last quarter. California State Teachers Retirement System lifted its stake in Enovis by 38.9% in the 1st quarter. California State Teachers Retirement System now owns 76,966 shares of the company’s stock worth $1,751,000 after purchasing an additional 21,571 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Enovis by 130.8% in the 1st quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock worth $13,752,000 after purchasing an additional 342,556 shares in the last quarter. Finally, London Co. of Virginia lifted its stake in Enovis by 12.0% in the 1st quarter. London Co. of Virginia now owns 416,582 shares of the company’s stock worth $9,477,000 after purchasing an additional 44,610 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.