Enovis (NYSE:ENOV) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Enovis (NYSE:ENOV) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also recently issued reports on ENOV. BTIG Research raised their price objective on Enovis from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore set a $32.00 target price on shares of Enovis in a research note on Monday, July 6th. William Blair assumed coverage on shares of Enovis in a report on Friday, April 17th. They set an “outperform” rating on the stock. UBS Group reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Enovis in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enovis currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Enovis Trading Down 8.9%

Shares of NYSE ENOV opened at $24.25 on Friday. The stock’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $23.98. Enovis has a 52-week low of $19.14 and a 52-week high of $34.28. The stock has a market capitalization of $1.40 billion, a P/E ratio of -1.26 and a beta of 1.34. The company has a quick ratio of 1.00, a current ratio of 1.98 and a debt-to-equity ratio of 0.84.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $582.78 million for the quarter, compared to the consensus estimate of $581.84 million. Enovis had a positive return on equity of 12.03% and a negative net margin of 47.96%.Enovis’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, analysts anticipate that Enovis will post 3.12 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Oliver Engert purchased 1,200 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $21.62 per share, with a total value of $25,944.00. Following the acquisition, the insider owned 51,840 shares in the company, valued at approximately $1,120,780.80. This trade represents a 2.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 4,200 shares of company stock valued at $92,084. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enovis

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in shares of Enovis by 12.5% during the first quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock valued at $2,363,000 after acquiring an additional 7,072 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Enovis by 37.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock worth $10,226,000 after acquiring an additional 73,116 shares during the period. Empowered Funds LLC lifted its position in Enovis by 13.0% in the 1st quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after purchasing an additional 749 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 707 shares during the last quarter. Finally, Amundi lifted its position in Enovis by 24,405.0% in the 2nd quarter. Amundi now owns 9,802 shares of the company’s stock valued at $328,000 after purchasing an additional 9,762 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Company Profile

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.