Insider Buying: Enovis (NYSE:ENOV) Director Acquires 924 Shares of Stock

Enovis Corporation (NYSE:ENOV) Director Sharon Wienbar purchased 924 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was bought at an average cost of $26.98 per share, for a total transaction of $24,929.52. Following the completion of the purchase, the director directly owned 43,777 shares in the company, valued at approximately $1,181,103.46. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Enovis Trading Down 1.0%

ENOV stock traded down $0.29 during midday trading on Tuesday, hitting $28.25. The company had a trading volume of 1,596,570 shares, compared to its average volume of 1,879,434. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 8.44 and a beta of 1.31. Enovis Corporation has a 52 week low of $16.70 and a 52 week high of $32.41. The company has a current ratio of 2.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $20.05 and its 200 day moving average price is $23.14.

Enovis (NYSE:ENOV) last issued its earnings results on Thursday, November 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.11. Enovis had a negative net margin of 22.86% and a positive return on equity of 13.23%. The firm had revenue of $558.73 million for the quarter, compared to analysts’ expectations of $557.12 million. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that Enovis Corporation will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in ENOV. IFP Advisors Inc lifted its stake in Enovis by 5,590.5% in the second quarter. IFP Advisors Inc now owns 1,195 shares of the company’s stock worth $25,000 after acquiring an additional 1,174 shares during the period. Allworth Financial LP bought a new stake in Enovis in the second quarter valued at $36,000. Integrated Wealth Concepts LLC purchased a new position in Enovis during the 2nd quarter valued at $39,000. Public Employees Retirement System of Ohio purchased a new position in Enovis during the 2nd quarter valued at $48,000. Finally, SBI Securities Co. Ltd. purchased a new position in Enovis during the 3rd quarter valued at $55,000. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ENOV shares. Weiss Ratings upgraded shares of Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, November 2nd. Needham & Company LLC upped their price objective on shares of Enovis from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Canaccord Genuity Group dropped their target price on shares of Enovis from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets set a $27.00 target price on Enovis in a research note on Tuesday, September 1st. Finally, Citigroup restated a “market outperform” rating on shares of Enovis in a report on Wednesday, September 2nd. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.62.

Enovis Company Profile

Enovis is a medical technology company that develops products and solutions for orthopedic care, surgery, recovery and rehabilitation. Its offerings include joint replacement implants, foot and ankle products, surgical instruments, orthopedic braces and supports, and rehabilitation equipment. The company serves healthcare providers and patients in markets around the world. Its products are designed to support treatment across different stages of musculoskeletal care, from surgical intervention to recovery and mobility.