Enovis (NYSE:ENOV) Sets New 12-Month Low – What’s Next?

Enovis Corporation (NYSE:ENOV) reached a new 52-week low on Monday . The stock traded as low as $25.04 and last traded at $26.8250, with a volume of 305 shares traded. The stock had previously closed at $26.47.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.17.

Enovis Stock Down 1.9%

The stock has a fifty day moving average price of $29.92 and a 200-day moving average price of $30.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.22. The firm has a market cap of $1.49 billion, a PE ratio of -1.10 and a beta of 1.52.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share for the quarter. The firm had revenue of $383.81 million during the quarter. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. Research analysts expect that Enovis Corporation will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other Enovis news, EVP Daniel A. Pryor sold 999 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total value of $27,172.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kleckner acquired 2,468 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average cost of $30.32 per share, with a total value of $74,829.76. Following the completion of the transaction, the insider owned 12,302 shares in the company, valued at $372,996.64. The trade was a 25.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently modified their holdings of ENOV. Rubric Capital Management LP purchased a new stake in Enovis during the 3rd quarter worth approximately $83,435,000. Vanguard Group Inc. raised its holdings in Enovis by 11.3% in the first quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company’s stock valued at $233,356,000 after acquiring an additional 621,069 shares in the last quarter. Tributary Capital Management LLC raised its holdings in 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 acquiring an additional 551,613 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Enovis by 191.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 810,771 shares of the company’s stock valued at $26,772,000 after acquiring an additional 532,648 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Enovis by 682.6% during the 2nd quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after acquiring an additional 434,646 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Company Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.