Enovis (NYSE:ENOV) Stock Price Down 3.3% – Here’s Why

Shares of Enovis Corporation (NYSE:ENOV) fell 3.3% on Thursday . The company traded as low as $18.21 and last traded at $18.0420. Approximately 40,974 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,166,222 shares. The stock had previously closed at $18.66.

Analyst Upgrades and Downgrades

ENOV has been the subject of a number of recent research reports. BTIG Research cut their price target on Enovis from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Citigroup restated a “market outperform” rating on shares of Enovis in a research report on Wednesday, September 2nd. Wells Fargo & Company reduced their target price on shares of Enovis from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Finally, Canaccord Genuity Group decreased their price target on shares of Enovis from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.38.

Enovis Price Performance

The firm has a 50 day moving average price of $24.55 and a 200 day moving average price of $23.90. The company has a quick ratio of 1.00, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.04 billion, a P/E ratio of -0.94 and a beta of 1.31.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating 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 positive return on equity of 12.03% and a negative net margin of 47.96%.The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, analysts forecast that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Damien Mcdonald acquired 13,035 shares of Enovis stock in a transaction dated Friday, September 4th. The stock was purchased at an average cost of $19.15 per share, with a total value of $249,620.25. Following the completion of the purchase, the chief executive officer directly owned 247,077 shares in the company, valued at approximately $4,731,524.55. This trade represents a 5.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oliver Engert acquired 5,140 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were purchased at an average price of $19.46 per share, for a total transaction of $100,024.40. Following the completion of the transaction, the insider directly owned 61,238 shares in the company, valued at approximately $1,191,691.48. This trade represents a 9.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 23,293 shares of company stock valued at $449,599. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enovis

A number of hedge funds have recently made changes to their positions in ENOV. Paradigm Capital Management Inc. NY raised its stake in Enovis by 70.2% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company’s stock valued at $40,420,000 after purchasing an additional 732,917 shares during the period. River Road Asset Management LLC boosted its stake in Enovis by 3.2% in 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. Private Management Group Inc. grew its holdings in Enovis by 38.8% during the 2nd quarter. Private Management Group Inc. now owns 1,365,082 shares of the company’s stock valued at $28,257,000 after buying an additional 381,705 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Enovis by 38.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,045,360 shares of the company’s stock valued at $24,430,000 after buying an additional 287,687 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Enovis by 14.6% during the fourth quarter. Royce & Associates LP now owns 826,848 shares of the company’s stock valued at $22,027,000 after buying an additional 105,608 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

About Enovis

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company’s product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.