Enovis (NYSE:ENOV) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Enovis (NYSE:ENOV) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. BTIG Research reiterated a “buy” rating and issued a $39.00 target price on shares of Enovis in a research note on Friday, May 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. William Blair initiated coverage on shares of Enovis in a research note on Friday, April 17th. They issued an “outperform” rating for the company. Evercore reiterated an “outperform” rating and issued a $36.00 target price on shares of Enovis in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their target price 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. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Enovis Stock Up 0.8%

Shares of Enovis stock opened at $21.87 on Monday. The firm’s 50 day moving average price is $24.02 and its 200-day moving average price is $24.98. The company has a market cap of $1.26 billion, a P/E ratio of -1.10 and a beta of 1.38. 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 52-week low of $20.82 and a 52-week high of $36.82.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $589.15 million during the quarter, compared to analysts’ expectations of $572.02 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. Enovis’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, sell-side analysts predict that Enovis will post 3.65 EPS for the current fiscal year.

Institutional Trading of Enovis

Several large investors have recently made changes to their positions in ENOV. Arax Advisory Partners acquired a new position in shares of Enovis in the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Enovis by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after buying an additional 707 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Enovis by 353.5% in the 4th quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock valued at $49,000 after buying an additional 1,446 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Enovis in the 3rd quarter valued at about $64,000. Finally, Danske Bank A S acquired a new position in shares of Enovis in the 3rd quarter valued at about $64,000. 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.