Enovis Corporation (NYSE:ENOV) Receives $49.83 Average Target Price from Brokerages

Enovis Corporation (NYSE:ENOV) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $46.7143.

ENOV has been the subject of several research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday. Wells Fargo & Company raised their target price on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. BTIG Research initiated coverage on shares of Enovis in a research report on Tuesday. They set a “buy” rating and a $41.00 price target for the company. Evercore ISI set a $40.00 price objective on shares of Enovis in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Enovis in a research report on Wednesday, October 8th.

Enovis Stock Down 0.7%

ENOV opened at $27.73 on Monday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.17 and a beta of 1.52. The firm has a 50 day moving average price of $28.42 and a 200-day moving average price of $29.92. Enovis has a twelve month low of $25.47 and a twelve month high of $49.38. The company has a quick ratio of 1.16, a current ratio of 2.22 and a debt-to-equity ratio of 0.66.

Enovis (NYSE:ENOV) last issued its earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. The company 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%. Equities research analysts forecast that Enovis will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Kleckner bought 2,468 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the transaction, the insider owned 12,302 shares of the company’s stock, valued at approximately $372,996.64. This trade represents a 25.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total value of $27,172.80. The disclosure for this sale is available in the SEC filing. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of 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 buying an additional 125,460 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Enovis by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock valued at $90,156,000 after acquiring an additional 51,201 shares in the last quarter. Rubric Capital Management LP bought a new stake in Enovis in the 3rd quarter valued at $83,435,000. Hood River Capital Management LLC increased its holdings in Enovis by 20.3% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,533 shares of the company’s stock valued at $54,426,000 after acquiring an additional 292,950 shares during the last quarter. Finally, River Road Asset Management LLC lifted its stake in Enovis by 3.5% in the 2nd quarter. River Road Asset Management LLC now owns 1,439,923 shares of the company’s stock worth $45,156,000 after purchasing an additional 48,036 shares in the last quarter. 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.