Enovis (NYSE:ENOV) Stock Price Down 5.6% – Here’s What Happened

Shares of Enovis Corporation (NYSE:ENOV) were down 5.6% during trading on Thursday . The stock traded as low as $25.26 and last traded at $24.9690. Approximately 373,186 shares changed hands during trading, a decline of 64% from the average daily volume of 1,039,166 shares. The stock had previously closed at $26.46.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore restated an “outperform” rating and issued a $36.00 price objective on shares of Enovis in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Zacks Research upgraded shares of Enovis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Wells Fargo & Company lowered their price target on Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enovis has an average rating of “Moderate Buy” and an average price target of $45.17.

Enovis Trading Down 7.0%

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.05. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -1.24 and a beta of 1.41. The business has a fifty day moving average price of $24.01 and a 200 day moving average price of $25.38.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The business had revenue of $589.15 million for the quarter, compared to the consensus estimate of $572.02 million. During the same quarter last year, the company posted $0.81 earnings per share. Enovis’s quarterly revenue was up 5.4% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, equities analysts expect that Enovis Corporation will post 3.65 EPS for the current fiscal year.

Insider Transactions at Enovis

In related news, insider Oliver Engert acquired 1,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $25.50 per share, for a total transaction of $25,500.00. Following the acquisition, the insider owned 43,640 shares in the company, valued at $1,112,820. This trade represents a 2.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have acquired 5,000 shares of company stock valued at $121,983. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enovis

Several hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Enovis by 11.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock worth $20,086,000 after buying an additional 78,497 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Enovis by 47.5% in the 3rd quarter. Impax Asset Management Group plc now owns 310,630 shares of the company’s stock valued at $9,425,000 after buying an additional 100,000 shares in the last quarter. Vanguard Group Inc. grew its position in Enovis by 2.0% in the third quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock valued at $197,945,000 after acquiring an additional 125,460 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in Enovis in the fourth quarter valued at $2,929,000. Finally, Public Sector Pension Investment Board raised its stake in Enovis by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 222,939 shares of the company’s stock worth $6,764,000 after acquiring an additional 28,236 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.