Enovis (NYSE:ENOV) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Enovis (NYSE:ENOV) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovis in a research report on Friday, April 10th. BTIG Research reissued a “buy” rating and issued a $39.00 target price on shares of Enovis in a research report on Friday, May 22nd. William Blair began coverage on shares of Enovis in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Wall Street Zen downgraded shares of Enovis from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Evercore reissued an “outperform” rating and set a $36.00 price objective on shares of Enovis in a report on Friday, May 8th. Seven analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Enovis Price Performance

Shares of ENOV opened at $20.00 on Tuesday. Enovis has a twelve month low of $19.14 and a twelve month high of $36.82. The company has a market capitalization of $1.15 billion, a P/E ratio of -1.01 and a beta of 1.39. The firm has a 50 day moving average of $23.28 and a 200 day moving average of $23.90. The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The business had revenue of $589.15 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, equities research analysts anticipate that Enovis will post 3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Oliver Engert bought 1,200 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $21.62 per share, with a total value of $25,944.00. Following the completion of the transaction, the insider owned 51,840 shares of the company’s stock, valued at approximately $1,120,780.80. This trade represents a 2.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 4,200 shares of company stock valued at $92,084 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enovis

Several hedge funds and other institutional investors have recently made changes to their positions in ENOV. Front Street Capital Management Inc. lifted its stake in shares of Enovis by 106.1% in the 1st 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 grew its position in Enovis by 2.3% during the first quarter. Amundi now owns 74,184 shares of the company’s stock valued at $1,688,000 after buying an additional 1,677 shares during the period. California State Teachers Retirement System increased 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 buying an additional 21,571 shares during the last quarter. Quantinno Capital Management LP raised its position in Enovis by 130.8% in the first quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock worth $13,752,000 after acquiring an additional 342,556 shares during the period. Finally, London Co. of Virginia increased its stake in shares of Enovis by 12.0% in the 1st quarter. London Co. of Virginia now owns 416,582 shares of the company’s stock worth $9,477,000 after purchasing an additional 44,610 shares in the last quarter. Hedge funds and other institutional investors 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.