Enovis (NYSE:ENOV) Downgraded to Hold Rating by Wall Street Zen

Enovis (NYSE:ENOV) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also weighed in on the company. BTIG Research restated a “buy” rating and set a $39.00 price target on shares of Enovis in a report on Friday, May 22nd. William Blair initiated coverage on Enovis in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Evercore reiterated an “outperform” rating and set a $36.00 price objective on shares of Enovis in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Enovis from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Enovis Trading Up 2.4%

Shares of NYSE ENOV opened at $22.54 on Friday. The business’s 50 day moving average is $23.58 and its two-hundred day moving average is $24.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.05. Enovis has a 1-year low of $20.55 and a 1-year high of $36.82. The stock has a market capitalization of $1.30 billion, a P/E ratio of -1.13 and a beta of 1.38.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. The business had revenue of $589.15 million during the quarter, compared to analyst estimates of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, research analysts expect that Enovis will post 3.65 EPS for the current year.

Insiders Place Their Bets

In related news, insider Oliver Engert acquired 1,200 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $21.62 per share, with a total value of $25,944.00. Following the transaction, the insider directly owned 51,840 shares in the company, valued at approximately $1,120,780.80. This represents a 2.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have bought 4,200 shares of company stock worth $92,084. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enovis

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