Enovis (NYSE:ENOV) Director Acquires $24,929.52 in Stock

Enovis Corporation (NYSE:ENOV) Director Sharon Wienbar purchased 924 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was bought at an average price of $26.98 per share, with a total value of $24,929.52. Following the transaction, the director directly owned 43,777 shares in the company, valued at $1,181,103.46. This trade represents a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Enovis Trading Down 3.2%

Shares of ENOV opened at $27.63 on Friday. The business’s 50-day moving average price is $20.36 and its 200 day moving average price is $23.19. The company has a current ratio of 2.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $1.59 billion, a P/E ratio of -3.00 and a beta of 1.31. Enovis Corporation has a 1-year low of $16.70 and a 1-year high of $31.81.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. Enovis had a negative net margin of 22.86% and a positive return on equity of 13.23%. The company had revenue of $558.73 million during the quarter, compared to analyst estimates of $557.12 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that Enovis Corporation will post 3.15 earnings per share for the current year.

Key Stories Impacting Enovis

Here are a few of the latest stories about ENOV:

• Positive Sentiment: Directors Angela S. Lalor and Sharon L. Wienbar reported purchases on November 10 and 11, totaling 3,531 shares worth about $100,000. The buying may bolster investor confidence, although the transactions are relatively modest and do not guarantee future performance. Lalor SEC filing Wienbar SEC filing
• Neutral Sentiment: Enovis said management will present at the Jefferies Global Healthcare Conference in London on November 17. The announcement provides an opportunity for investors to hear from management but disclosed no new financial guidance or business developments. Conference announcement

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Enovis from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 6th. BMO Capital Markets set a $27.00 price objective on shares of Enovis in a research note on Tuesday, September 1st. UBS Group reiterated a “buy” rating and set a $44.00 price objective on shares of Enovis in a research report on Monday, October 5th. Zacks Research raised shares of Enovis from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, BTIG Research boosted their target price on shares of Enovis from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.62.

Hedge Funds Weigh In On Enovis

A number of hedge funds have recently added to or reduced their stakes in ENOV. Bank of America Corp DE acquired a new stake in shares of Enovis in the 2nd quarter valued at $11,502,000. First National Bank of Omaha bought a new position in Enovis in the 2nd quarter worth approximately $1,250,000. Legal & General Group Plc bought a new position in Enovis during the second quarter worth $2,753,000. Man Group plc acquired a new position in shares of Enovis during the second quarter valued at about $8,711,000. Finally, Jupiter Topco LLC acquired a new position in Enovis in the 2nd quarter valued at approximately $2,346,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Enovis

Enovis is a medical technology company that develops products and solutions for orthopedic care, surgery, recovery and rehabilitation. Its offerings include joint replacement implants, foot and ankle products, surgical instruments, orthopedic braces and supports, and rehabilitation equipment. The company serves healthcare providers and patients in markets around the world. Its products are designed to support treatment across different stages of musculoskeletal care, from surgical intervention to recovery and mobility.