Enovis’ (ENOV) “Buy” Rating Reaffirmed at BTIG Research

Enovis (NYSE:ENOV)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $39.00 price target on the stock. BTIG Research’s target price indicates a potential upside of 58.52% from the company’s previous close.

Several other brokerages also recently issued reports on ENOV. Wells Fargo & Company decreased their price objective on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. William Blair started coverage on shares of Enovis in a research note on Friday, April 17th. They issued an “outperform” rating for the company. Needham & Company LLC raised their price objective on shares of Enovis from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Zacks Research raised shares of Enovis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Enovis Stock Down 7.0%

Shares of NYSE:ENOV opened at $24.60 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. Enovis has a 12 month low of $21.00 and a 12 month high of $36.82. The company has a 50-day moving average price of $24.03 and a 200 day moving average price of $25.33. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -1.24 and a beta of 1.41.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The firm had revenue of $589.15 million during the quarter, compared to the consensus estimate of $572.02 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, equities research analysts predict that Enovis will post 3.65 earnings per share for the current year.

Insider Transactions at Enovis

In other news, insider Oliver Engert purchased 1,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $25.50 per share, with a total value of $25,500.00. Following the completion of the acquisition, the insider owned 43,640 shares of the company’s stock, valued at $1,112,820. This trade represents a 2.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 5,000 shares of company stock valued at $121,983 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enovis

Several institutional investors and hedge funds have recently bought and sold shares of ENOV. Allspring Global Investments Holdings LLC lifted its stake in shares of Enovis by 11.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock worth $20,086,000 after buying an additional 78,497 shares during the period. Impax Asset Management Group plc lifted its position in Enovis by 47.5% during the third quarter. Impax Asset Management Group plc now owns 310,630 shares of the company’s stock valued at $9,425,000 after purchasing an additional 100,000 shares during the period. Vanguard Group Inc. lifted its position in Enovis by 2.0% during the third quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock valued at $197,945,000 after purchasing an additional 125,460 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Enovis during the fourth quarter valued at $2,929,000. Finally, Public Sector Pension Investment Board lifted its position in Enovis by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 222,939 shares of the company’s stock valued at $6,764,000 after purchasing an additional 28,236 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.