Enovis (NYSE:ENOV) Hits New 12-Month Low – Here’s What Happened

Enovis Corporation (NYSE:ENOV) reached a new 52-week low on Wednesday . The company traded as low as $19.14 and last traded at $20.7340, with a volume of 2373298 shares. The stock had previously closed at $22.02.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research cut Enovis from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Enovis in a research report on Friday, April 10th. Wells Fargo & Company lowered their target price on Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, May 8th. BTIG Research reiterated a “buy” rating and issued a $39.00 target price on shares of Enovis in a research report on Friday, May 22nd. Finally, Evercore reissued an “outperform” rating and set a $36.00 price target on shares of Enovis in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Enovis Trading Down 5.8%

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 company has a market cap of $1.19 billion, a price-to-earnings ratio of -1.04 and a beta of 1.38. The business’s fifty day moving average price is $23.40 and its 200 day moving average price is $23.95.

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

Insider Buying and Selling at Enovis

In related news, insider Oliver Engert acquired 1,200 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $21.62 per share, for a total transaction of $25,944.00. Following the completion of the transaction, the insider directly owned 51,840 shares of the company’s stock, valued at $1,120,780.80. The trade was a 2.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 4,200 shares of company stock valued at $92,084 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Enovis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENOV. AQR Capital Management LLC raised 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 purchasing an additional 7,072 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 worth $10,226,000 after buying an additional 73,116 shares during the period. Empowered Funds LLC increased its position in shares of Enovis by 13.0% during the first quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock worth $249,000 after buying an additional 749 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after buying an additional 707 shares during the period. Finally, Amundi raised its stake in Enovis by 24,405.0% during the second quarter. Amundi now owns 9,802 shares of the company’s stock worth $328,000 after buying an additional 9,762 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.