Enovis Corporation (NYSE:ENOV) Stock Has Average Target Price of $37.25 According to Analysts

Shares of Enovis Corporation (NYSE:ENOV) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.50.

Several equities research analysts have recently commented on ENOV shares. Needham & Company LLC boosted their price objective on Enovis from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. UBS Group reiterated a “buy” rating and issued a $44.00 target price on shares of Enovis in a report on Monday, October 5th. Citizens Jmp reduced their price target on shares of Enovis from $55.00 to $47.00 and set a “market outperform” rating for the company in a research report on Wednesday, September 2nd. Wells Fargo & Company lowered their price objective on shares of Enovis from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Finally, Citigroup restated a “market outperform” rating on shares of Enovis in a report on Wednesday, September 2nd.

Insider Buying and Selling

In related news, insider Oliver Engert bought 2,660 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $18.80 per share, for a total transaction of $50,008.00. Following the completion of the acquisition, the insider directly owned 63,898 shares of the company’s stock, valued at $1,201,282.40. This trade represents a 4.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Damien Mcdonald bought 13,035 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average cost of $19.15 per share, for a total transaction of $249,620.25. Following the transaction, the chief executive officer owned 247,077 shares of the company’s stock, valued at $4,731,524.55. The trade was a 5.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 23,293 shares of company stock valued at $449,599 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Enovis

Several institutional investors and hedge funds have recently made changes to their positions in ENOV. IFP Advisors Inc lifted its holdings in Enovis by 5,590.5% during the second quarter. IFP Advisors Inc now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 1,174 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Enovis in the second quarter worth about $36,000. Integrated Wealth Concepts LLC bought a new position in Enovis in the 2nd quarter worth approximately $39,000. Public Employees Retirement System of Ohio purchased a new position in Enovis in the 2nd quarter valued at approximately $48,000. Finally, SBI Securities Co. Ltd. purchased a new position in Enovis in the 3rd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis News Roundup

Here are the key news stories impacting Enovis this week:

• Positive Sentiment: Enovis reported adjusted earnings of $0.88 per share, beating analyst estimates of roughly $0.76–$0.77 and rising from $0.75 a year earlier. Revenue of $558.7 million also edged past forecasts. Enovis Climbs on Swing to 3Q Profit, Higher Sales
• Positive Sentiment: The company announced a $200 million share-repurchase program, which may support per-share results and signal management confidence. Enovis announces $200 million equity buyback
• Positive Sentiment: Analysts raised their targets and maintained Buy ratings: Needham lifted its target to $38 from $34, while BTIG raised its target to $42 from $36. These revisions reflect a more favorable outlook after the quarterly results. Read More. · Read More.
• Neutral Sentiment: Revenue grew just 1.8% year over year and was close to expectations, so the earnings beat—not strong sales acceleration—appears to be the main results catalyst.

Enovis Stock Performance

Shares of ENOV stock opened at $28.50 on Friday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -1.48 and a beta of 1.31. The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $19.86 and its 200-day moving average price is $23.07. Enovis has a 12 month low of $16.70 and a 12 month high of $32.41.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.11. The firm had revenue of $558.73 million during the quarter, compared to analysts’ expectations of $557.12 million. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Equities research analysts forecast that Enovis will post 3.15 EPS for the current year.

About Enovis

Enovis Corporation (NYSE: ENOV) is a medical technology company that develops, manufactures and distributes products designed to improve patient recovery, mobility and quality of life. Its portfolio serves orthopedic, sports medicine, physical therapy and rehabilitation markets, as well as other areas of musculoskeletal care.

The company’s products include orthopedic implants and surgical technologies, braces and supports, cold and compression therapy systems, electrotherapy and rehabilitation equipment, and other solutions used by hospitals, surgeons, physical therapists, athletic trainers and patients.