Enovis (NYSE:ENOV) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Enovis (NYSE:ENOV) from a hold rating to a buy rating in a research note released on Monday morning.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Needham & Company LLC lifted their target price on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. UBS Group reiterated a “buy” rating and set a $50.00 target price on shares of Enovis in a report on Monday, January 5th. Zacks Research raised Enovis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Finally, Evercore restated an “outperform” rating on shares of Enovis in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Enovis currently has a consensus rating of “Buy” and an average price target of $47.43.

Enovis Price Performance

NYSE ENOV opened at $21.68 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.02 and a debt-to-equity ratio of 0.85. Enovis has a 12-month low of $21.00 and a 12-month high of $38.56. The company has a market capitalization of $1.24 billion, a PE ratio of -1.05 and a beta of 1.46. The firm’s 50 day moving average is $22.98 and its 200-day moving average is $27.11.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The business had revenue of $575.76 million for the quarter, compared to analyst estimates of $584.30 million. Enovis had a negative net margin of 52.69% and a positive return on equity of 8.74%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Equities research analysts anticipate that Enovis will post 2.79 earnings per share for the current fiscal year.

Insider Activity at Enovis

In other news, insider Oliver Engert acquired 1,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $25.50 per share, with a total value of $25,500.00. Following the transaction, the insider directly owned 43,640 shares in the company, valued at approximately $1,112,820. The trade was a 2.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 5,000 shares of company stock valued at $121,983. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Enovis

Hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP acquired a new position in Enovis during the third quarter worth approximately $83,435,000. Tributary Capital Management LLC lifted its position in shares of Enovis by 91.5% in the third quarter. Tributary Capital Management LLC now owns 1,154,482 shares of the company’s stock valued at $35,027,000 after buying an additional 551,613 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Enovis by 682.6% in the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock valued at $15,627,000 after buying an additional 434,646 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Enovis by 41.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,113,300 shares of the company’s stock worth $34,913,000 after acquiring an additional 326,900 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in shares of Enovis by 163.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 508,971 shares of the company’s stock worth $13,559,000 after acquiring an additional 315,711 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.