Enovis (NYSE:ENOV) Hits New 1-Year Low – Time to Sell?

Shares of Enovis Corporation (NYSE:ENOV) hit a new 52-week low on Tuesday . The stock traded as low as $25.13 and last traded at $25.76, with a volume of 370131 shares changing hands. The stock had previously closed at $26.95.

Analyst Upgrades and Downgrades

ENOV has been the subject of several recent analyst reports. BTIG Research started coverage on shares of Enovis in a research report on Tuesday, January 6th. They set a “buy” rating and a $41.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group decreased their price objective on Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Enovis in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.71.

Enovis Price Performance

The company’s 50-day simple moving average is $28.27 and its 200 day simple moving average is $29.84. The company has a market cap of $1.42 billion, a PE ratio of -1.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.22.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%.The business had revenue of $383.81 million for the quarter. Enovis has set its FY 2025 guidance at 3.100-3.250 EPS. On average, sell-side analysts predict that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Insider Activity at Enovis

In other Enovis news, EVP Daniel A. Pryor sold 999 shares of the business’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 transaction of $27,172.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kleckner acquired 2,468 shares of Enovis stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the acquisition, the insider directly owned 12,302 shares in the company, valued at approximately $372,996.64. This represents a 25.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in Enovis by 42.8% during the third quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock worth $37,000 after purchasing an additional 367 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Enovis during the 2nd quarter worth $46,000. SJS Investment Consulting Inc. lifted its position in Enovis by 30,340.0% in the third quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock valued at $46,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Enovis by 235.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,703 shares of the company’s stock valued at $52,000 after acquiring an additional 1,195 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.