Enovis (NYSE:ENOV) Raised to Strong-Buy at Zacks Research

Enovis (NYSE:ENOV) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

ENOV has been the topic of several other reports. Wells Fargo & Company upped their target price on Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Needham & Company LLC boosted their target price on shares of Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Evercore reaffirmed an “outperform” rating on shares of Enovis in a research report on Monday, January 12th. UBS Group reissued a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday, January 5th. Finally, BTIG Research upped their target price on Enovis from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One research analyst has 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Enovis Price Performance

Enovis stock remained flat at $24.32 during trading hours on Wednesday. 281,039 shares of the company’s stock were exchanged, compared to its average volume of 1,138,905. The company has a market capitalization of $1.39 billion, a P/E ratio of -1.17 and a beta of 1.46. The stock has a 50 day moving average of $24.15 and a 200 day moving average of $28.08. Enovis has a fifty-two week low of $21.00 and a fifty-two week high of $40.69. The company has a current ratio of 2.02, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. Enovis had a negative net margin of 52.69% and a positive return on equity of 8.74%. The firm had revenue of $575.76 million for the quarter, compared to the consensus estimate of $584.30 million. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, sell-side analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Insider Transactions at Enovis

In other news, EVP Daniel A. Pryor sold 999 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total value of $27,172.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oliver Engert bought 1,000 shares of Enovis stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $25.50 per share, with a total value of $25,500.00. Following the completion of the purchase, the insider owned 43,640 shares in the company, valued at approximately $1,112,820. This trade represents a 2.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,250 shares of company stock valued at $56,545 in the last ninety days. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enovis

A number of institutional investors have recently added to or reduced their stakes in ENOV. Vanguard Group Inc. raised its position in Enovis by 2.0% during the third quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock worth $197,945,000 after acquiring an additional 125,460 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Enovis by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock valued at $90,156,000 after acquiring an additional 51,201 shares during the last quarter. Rubric Capital Management LP acquired a new position in Enovis in the 3rd quarter valued at about $83,435,000. Hood River Capital Management LLC lifted its holdings in Enovis by 20.3% in the second quarter. Hood River Capital Management LLC now owns 1,735,533 shares of the company’s stock valued at $54,426,000 after acquiring an additional 292,950 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Enovis by 3.2% during the 4th quarter. River Road Asset Management LLC now owns 1,487,277 shares of the company’s stock worth $39,621,000 after purchasing an additional 46,289 shares during the period. 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.