Enovis (NYSE:ENOV) Shares Down 7.5% After Analyst Downgrade
by Renee Jackson · The Cerbat GemEnovis Corporation (NYSE:ENOV – Get Free Report) shares dropped 7.5% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $42.00 to $40.00. Wells Fargo & Company currently has an overweight rating on the stock. Enovis traded as low as $24.78 and last traded at $24.54. Approximately 688,276 shares were traded during trading, a decline of 33% from the average daily volume of 1,022,775 shares. The stock had previously closed at $26.52.
Several other equities analysts have also weighed in on the company. William Blair initiated coverage on Enovis in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Zacks Research raised Enovis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Needham & Company LLC increased 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. Finally, Evercore reissued an “outperform” rating on shares of Enovis in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Enovis has an average rating of “Moderate Buy” and a consensus target price of $45.17.
View Our Latest Stock Analysis on ENOV
Insider Activity at Enovis
In other Enovis news, insider Oliver Engert purchased 1,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $25.50 per share, with a total value of $25,500.00. Following the completion of the transaction, the insider directly owned 43,640 shares in the company, valued at $1,112,820. This trade represents a 2.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 5,000 shares of company stock worth $121,983 over the last quarter. Company insiders own 2.90% of the company’s stock.
Institutional Investors Weigh In On Enovis
A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in shares of Enovis by 42.8% during the third quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock worth $37,000 after purchasing an additional 367 shares during the period. Amalgamated Bank raised its position in shares of Enovis by 3.6% during the third quarter. Amalgamated Bank now owns 16,793 shares of the company’s stock worth $509,000 after purchasing an additional 585 shares during the period. California State Teachers Retirement System raised its position in shares of Enovis by 1.2% during the second quarter. California State Teachers Retirement System now owns 51,713 shares of the company’s stock worth $1,622,000 after purchasing an additional 621 shares during the period. MGO One Seven LLC grew its holdings in shares of Enovis by 9.4% during the fourth quarter. MGO One Seven LLC now owns 7,581 shares of the company’s stock worth $202,000 after buying an additional 650 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Enovis by 0.4% during the third quarter. Rhumbline Advisers now owns 173,023 shares of the company’s stock worth $5,250,000 after buying an additional 682 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
Enovis Stock Performance
The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.40 billion, a P/E ratio of -1.23 and a beta of 1.41. The stock has a fifty day moving average of $23.86 and a 200-day moving average of $25.80.
Enovis (NYSE:ENOV – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $0.81 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, research analysts anticipate that Enovis Corporation will post 3.62 EPS for the current year.
Enovis Company Profile
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.