Enovis (NYSE:ENOV) Hits New 1-Year Low After Analyst Downgrade

Enovis Corporation (NYSE:ENOV)’s share price reached a new 52-week low during trading on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $19.14 and last traded at $20.7340, with a volume of 2373298 shares trading hands. The stock had previously closed at $22.02.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Enovis in a report on Friday, April 10th. Wells Fargo & Company dropped their price objective on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wall Street Zen downgraded shares of Enovis from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Evercore reissued an “outperform” rating and set a $36.00 target price on shares of Enovis in a report on Friday, May 8th. Finally, BTIG Research restated a “buy” rating and issued a $39.00 price target on shares of Enovis in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and two have assigned 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 $44.50.

Insiders Place Their Bets

In other news, insider Oliver Engert bought 1,200 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $21.62 per share, with a total value of $25,944.00. Following the transaction, the insider owned 51,840 shares of the company’s stock, valued at $1,120,780.80. This trade represents a 2.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 4,200 shares of company stock worth $92,084. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enovis

A number of institutional investors have recently modified their holdings of ENOV. Arax Advisory Partners acquired a new stake in shares of Enovis during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC boosted its position in Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after acquiring an additional 707 shares during the last quarter. GAMMA Investing LLC boosted its position in Enovis by 353.5% during the fourth quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock valued at $49,000 after acquiring an additional 1,446 shares during the last quarter. Danske Bank A S acquired a new stake in Enovis during the 3rd quarter worth about $64,000. Finally, iSAM Funds UK Ltd acquired a new stake in Enovis during the 3rd quarter worth about $80,000. 98.45% of the stock is owned by institutional investors.

Enovis Stock Performance

The company has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $23.87. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.30 billion, a P/E ratio of -1.14 and a beta of 1.39.

Enovis (NYSE:ENOV) last announced its earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The company had revenue of $589.15 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter in the prior year, the company earned $0.81 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, equities analysts forecast that Enovis Corporation will post 3.12 earnings per share for the current year.

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.