Enovis (NYSE:ENOV) Raised to Hold at Zacks Research

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

A number of other brokerages also recently commented on ENOV. Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a report on Monday, July 6th. BTIG Research reissued a “buy” rating and set a $39.00 price objective on shares of Enovis in a research note on Friday, May 22nd. Evercore set a $32.00 price objective on Enovis in a research report on Monday, July 6th. Wells Fargo & Company decreased their price objective on Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, BMO Capital Markets began coverage on Enovis in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.86.

Enovis Trading Down 3.1%

Shares of ENOV opened at $29.32 on Wednesday. The stock has a market capitalization of $1.69 billion, a PE ratio of -1.47 and a beta of 1.39. The company’s fifty day moving average is $23.96 and its 200 day moving average is $23.78. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 2.04. Enovis has a fifty-two week low of $19.14 and a fifty-two week high of $34.28.

Enovis (NYSE:ENOV) last released its quarterly earnings data 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 negative net margin of 49.92% and a positive return on equity of 10.32%. The business had revenue of $589.15 million during the quarter, compared to analyst estimates of $572.02 million. During the same quarter last year, the business earned $0.81 earnings per share. Enovis’s quarterly revenue was up 5.4% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Sell-side analysts expect that Enovis will post 3.12 earnings per share for the current fiscal year.

Insider Activity at Enovis

In related news, insider Oliver Engert purchased 1,200 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $21.62 per share, for a total transaction of $25,944.00. Following the completion of the acquisition, the insider owned 51,840 shares in the company, valued at approximately $1,120,780.80. This trade represents a 2.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 4,200 shares of company stock valued at $92,084 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enovis

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Enovis by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 51,713 shares of the company’s stock worth $1,622,000 after acquiring an additional 621 shares in the last quarter. MGO One Seven LLC lifted its stake in shares of Enovis by 9.4% during the 4th quarter. MGO One Seven LLC now owns 7,581 shares of the company’s stock worth $202,000 after purchasing an additional 650 shares during the last quarter. 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 purchasing an additional 707 shares in the last quarter. Empowered Funds LLC grew its stake in Enovis by 13.0% in the first quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after purchasing an additional 749 shares during the last quarter. Finally, Inscription Capital LLC grew its stake in Enovis by 9.4% in the fourth quarter. Inscription Capital LLC now owns 11,869 shares of the company’s stock valued at $316,000 after purchasing an additional 1,016 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.