Enovis (NYSE:ENOV) Price Target Raised to $40.00

Enovis (NYSE:ENOV) had its target price lifted by analysts at BTIG Research from $39.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 55.75% from the stock’s previous close.

ENOV has been the topic of several other reports. Weiss Ratings raised shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company cut their price objective on Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. William Blair began coverage on Enovis in a research report on Friday, April 17th. They set an “outperform” rating for the company. Evercore set a $32.00 price target on Enovis in a report on Monday, July 6th. Finally, Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Enovis Stock Down 14.9%

Shares of ENOV traded down $4.50 during midday trading on Thursday, reaching $25.68. 1,517,256 shares of the stock were exchanged, compared to its average volume of 1,087,456. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -1.29 and a beta of 1.34. 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 has a 12-month low of $19.14 and a 12-month high of $34.28. The firm has a 50 day simple moving average of $24.47 and a 200-day simple moving average of $23.93.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm had revenue of $582.78 million for the quarter, compared to analyst estimates of $581.84 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Research analysts forecast that Enovis will post 3.12 EPS for the current year.

Insider Activity at Enovis

In other Enovis news, insider Oliver Engert acquired 1,200 shares of Enovis stock in a transaction dated Thursday, June 11th. The stock was bought 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 $1,120,780.80. The trade was a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 4,200 shares of company stock worth $92,084 in the last three months. 2.90% of the stock is owned by insiders.

Institutional Trading of Enovis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Enovis by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock worth $90,156,000 after buying an additional 51,201 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Enovis during the 3rd quarter worth approximately $83,435,000. Paradigm Capital Management Inc. NY increased its position in shares of Enovis by 70.2% during the first 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 increased its position in shares of Enovis by 3.2% during the fourth quarter. River Road Asset Management LLC now owns 1,487,277 shares of the company’s stock valued at $39,621,000 after purchasing an additional 46,289 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Enovis by 38.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,045,360 shares of the company’s stock valued at $24,430,000 after purchasing an additional 287,687 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.