Enovis Corporation (NYSE:ENOV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Enovis Corporation (NYSE:ENOV) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $46.7143.

ENOV has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group cut their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. UBS Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Enovis in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Finally, BTIG Research started coverage on Enovis in a research report on Tuesday, January 6th. They set a “buy” rating and a $41.00 price target on the stock.

Enovis Stock Performance

NYSE:ENOV opened at $22.69 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of -0.96 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 2.22 and a debt-to-equity ratio of 0.66. Enovis has a 12-month low of $21.00 and a 12-month high of $48.37. The firm has a 50-day moving average price of $26.65 and a 200 day moving average price of $28.96.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $548.91 million for the quarter, compared to analyst estimates of $538.61 million. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. Enovis has set its FY 2025 guidance at 3.100-3.250 EPS. Research analysts anticipate that Enovis will post 2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Daniel A. Pryor sold 999 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kleckner purchased 2,468 shares of Enovis stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the transaction, the insider owned 12,302 shares in the company, valued at $372,996.64. This represents a 25.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in Enovis by 12.5% during the 1st quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock worth $2,363,000 after buying an additional 7,072 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Enovis by 37.6% during the first quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock valued at $10,226,000 after acquiring an additional 73,116 shares during the period. Empowered Funds LLC boosted its holdings 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 acquiring an additional 749 shares during the last quarter. State of Alaska Department of Revenue increased its position in Enovis by 8.0% in the second quarter. State of Alaska Department of Revenue now owns 34,027 shares of the company’s stock worth $1,066,000 after purchasing an additional 2,523 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Enovis by 2.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 22,375 shares of the company’s stock worth $702,000 after purchasing an additional 593 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.