Enovis (NYSE:ENOV) Raised to Strong-Buy at UBS Group

Enovis (NYSE:ENOV) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on ENOV. Zacks Research downgraded Enovis from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Wall Street Zen raised Enovis from a “hold” rating to a “buy” rating in a research note on Monday, July 6th. BTIG Research restated a “buy” rating and issued a $39.00 price objective on shares of Enovis in a report on Friday, May 22nd. Evercore set a $32.00 price objective on shares of Enovis in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.86.

Enovis Trading Up 2.2%

Enovis stock opened at $30.18 on Tuesday. Enovis has a 12 month low of $19.14 and a 12 month high of $34.28. 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 stock has a market cap of $1.74 billion, a P/E ratio of -1.52 and a beta of 1.39. The company’s fifty day simple moving average is $23.86 and its 200-day simple moving average is $23.78.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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%.Enovis’s quarterly revenue was up 5.4% compared to the same quarter last year. 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. As a group, sell-side analysts forecast that Enovis will post 3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Oliver Engert purchased 1,200 shares of Enovis stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $21.62 per share, with a total value of $25,944.00. Following the completion of the transaction, the insider directly owned 51,840 shares of the company’s stock, valued at approximately $1,120,780.80. This represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 4,200 shares of company stock worth $92,084 in the last 90 days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its stake in shares of Enovis by 9.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,117 shares of the company’s stock valued at $437,000 after acquiring an additional 1,800 shares in the last quarter. Front Street Capital Management Inc. boosted its position in Enovis by 106.1% during the first quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock worth $16,973,000 after purchasing an additional 384,124 shares during the period. Amundi boosted its position in Enovis by 2.3% during the first quarter. Amundi now owns 74,184 shares of the company’s stock worth $1,688,000 after purchasing an additional 1,677 shares during the period. California State Teachers Retirement System grew its holdings in Enovis by 38.9% during the first quarter. California State Teachers Retirement System now owns 76,966 shares of the company’s stock valued at $1,751,000 after purchasing an additional 21,571 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Enovis by 130.8% during the first quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock valued at $13,752,000 after purchasing an additional 342,556 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.