Enovis (NYSE:ENOV) Trading Down 7.7% – Here’s Why
by Jessica Moore · The Cerbat GemShares of Enovis Corporation (NYSE:ENOV – Get Free Report) fell 7.7% during trading on Tuesday . The company traded as low as $23.90 and last traded at $24.2370. 468,952 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,006,268 shares. The stock had previously closed at $26.27.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ENOV shares. Evercore reiterated an “outperform” rating on shares of Enovis in a research report on Monday, January 12th. BTIG Research lifted their price objective on Enovis from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. William Blair started coverage on Enovis in a research note on Friday. They issued an “outperform” rating on the stock. Needham & Company LLC boosted their price target on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wells Fargo & Company raised Enovis to a “strong-buy” rating in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enovis presently has a consensus rating of “Buy” and an average price target of $47.43.
View Our Latest Report on Enovis
Enovis Price Performance
The firm has a market capitalization of $1.37 billion, a PE ratio of -1.15 and a beta of 1.47. The company has a current ratio of 2.02, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average of $23.47 and a 200 day moving average of $26.34.
Enovis (NYSE:ENOV – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. The firm had revenue of $575.76 million during the quarter, compared to the consensus estimate of $584.30 million. Enovis had a positive return on equity of 8.74% and a negative net margin of 52.69%.The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, research analysts anticipate that Enovis Corporation will post 3.62 EPS for the current fiscal year.
Insider Transactions at Enovis
In other news, insider Oliver Engert purchased 1,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $25.50 per share, for a total transaction of $25,500.00. Following the purchase, the insider owned 43,640 shares of the company’s stock, valued at $1,112,820. The trade was a 2.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 5,000 shares of company stock valued at $121,983. 2.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Enovis
A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Enovis by 11.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock worth $20,086,000 after acquiring an additional 78,497 shares during the period. Impax Asset Management Group plc boosted its position in shares of Enovis by 47.5% during the 3rd quarter. Impax Asset Management Group plc now owns 310,630 shares of the company’s stock valued at $9,425,000 after acquiring an additional 100,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Enovis during the 3rd quarter valued at about $4,045,000. Vanguard Group Inc. boosted its position in shares of Enovis by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock valued at $197,945,000 after acquiring an additional 125,460 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Enovis by 56.0% during the 2nd quarter. Osaic Holdings Inc. now owns 139,727 shares of the company’s stock valued at $4,382,000 after acquiring an additional 50,156 shares during the last quarter. 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.