Enovis (NYSE:ENOV) Reaches New 1-Year Low on Analyst Downgrade

Enovis Corporation (NYSE:ENOV) hit a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $39.00 to $33.00. Wells Fargo & Company currently has an overweight rating on the stock. Enovis traded as low as $19.10 and last traded at $19.34, with a volume of 361949 shares traded. The stock had previously closed at $20.20.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Enovis from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup reiterated a “market outperform” rating on shares of Enovis in a report on Wednesday. BMO Capital Markets set a $27.00 price objective on shares of Enovis in a research report on Tuesday. UBS Group restated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Enovis in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

Insider Activity

In related news, insider Oliver Engert bought 1,200 shares of Enovis stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $21.62 per share, with a total value of $25,944.00. Following the acquisition, the insider owned 51,840 shares of the company’s stock, valued at approximately $1,120,780.80. This represents a 2.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have bought 3,200 shares of company stock worth $69,864. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enovis

A number of hedge funds have recently bought and sold shares of the business. Arax Advisory Partners acquired a new stake in Enovis during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Enovis by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after acquiring an additional 707 shares during the period. Allworth Financial LP bought a new stake in shares of Enovis during the 2nd quarter valued at $36,000. Danske Bank A S bought a new position in shares of Enovis in the third quarter worth $64,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Enovis in the second quarter valued at about $48,000. 98.45% of the stock is owned by institutional investors.

Enovis Price Performance

The firm has a market cap of $1.11 billion, a P/E ratio of -1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.00. The company’s 50-day moving average is $25.63 and its two-hundred day moving average is $24.26.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $582.78 million during the quarter, compared to the consensus estimate of $581.84 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Sell-side analysts anticipate that Enovis Corporation will post 3.15 EPS for the current fiscal 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.