Enovis (NYSE:ENOV) Trading 5.8% Higher – Still a Buy?

Enovis Corporation (NYSE:ENOV) shares rose 5.8% during trading on Wednesday . The stock traded as high as $27.20 and last traded at $27.5750. Approximately 75,682 shares changed hands during trading, a decline of 93% from the average daily volume of 1,071,940 shares. The stock had previously closed at $26.07.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Canaccord Genuity Group set a $50.00 target price on Enovis in a research note on Wednesday. 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 research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.83.

Enovis Stock Up 6.8%

The stock’s 50 day moving average is $29.92 and its 200 day moving average is $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 company has a market capitalization of $1.59 billion, a PE ratio of -1.17 and a beta of 1.52.

Enovis (NYSE:ENOV) last posted its earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The business had revenue of $383.81 million for the quarter. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. On average, sell-side analysts anticipate that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Insider Activity at Enovis

In other news, EVP Daniel A. Pryor sold 999 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through this link. Also, insider John Kleckner bought 2,468 shares of the stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the purchase, the insider directly owned 12,302 shares in the company, valued at approximately $372,996.64. This trade represents a 25.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Enovis

Several hedge funds have recently bought and sold shares of the stock. Capital Fund Management S.A. bought a new stake in shares of Enovis in the 2nd quarter valued at approximately $1,682,000. Rhumbline Advisers raised its stake in Enovis by 32.4% in the second quarter. Rhumbline Advisers now owns 172,341 shares of the company’s stock worth $5,405,000 after buying an additional 42,138 shares in the last quarter. Central Valley Advisors LLC boosted its stake in Enovis by 18.5% in the second quarter. Central Valley Advisors LLC now owns 57,372 shares of the company’s stock valued at $1,799,000 after acquiring an additional 8,951 shares in the last quarter. Boston Partners increased its holdings in shares of Enovis by 42.4% during the second quarter. Boston Partners now owns 1,382,724 shares of the company’s stock valued at $43,352,000 after acquiring an additional 411,744 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE raised its position in Enovis by 6.3% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 227,235 shares of the company’s stock worth $7,126,000 after acquiring an additional 13,566 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.