Wall Street Zen Downgrades Enovis (NYSE:ENOV) to Hold

Enovis (NYSE:ENOV) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts have also recently commented on ENOV. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Wells Fargo & Company cut their target price on Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. William Blair assumed coverage on Enovis in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Zacks Research cut Enovis from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Needham & Company LLC upped their target price on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Enovis Trading Up 3.9%

Shares of ENOV stock opened at $23.75 on Friday. Enovis has a 1 year low of $20.82 and a 1 year high of $36.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $24.04 and its two-hundred day simple moving average is $24.79. The company has a market cap of $1.37 billion, a PE ratio of -1.19 and a beta of 1.38.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $589.15 million for the quarter, compared to the consensus estimate of $572.02 million. During the same period in the prior year, the business posted $0.81 earnings per share. The company’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. Research analysts predict that Enovis will post 3.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arax Advisory Partners purchased a new position in Enovis during the 4th quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in Enovis by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after purchasing an additional 707 shares during the period. GAMMA Investing LLC increased its holdings in Enovis by 353.5% during the 4th quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock worth $49,000 after purchasing an additional 1,446 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Enovis during the 3rd quarter worth $64,000. Finally, Danske Bank A S purchased a new position in Enovis during the 3rd quarter worth $64,000. Institutional investors 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.