Enovis (NYSE:ENOV) Shares Up 7.3% – Time to Buy?

Enovis Corporation (NYSE:ENOV) shot up 7.3% on Thursday . The stock traded as high as $21.16 and last traded at $21.5060. Approximately 111,748 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,073,055 shares. The stock had previously closed at $20.04.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ENOV shares. William Blair started coverage on Enovis in a research note on Friday, April 17th. They set an “outperform” rating for the company. Zacks Research lowered Enovis from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wall Street Zen downgraded Enovis from a “buy” rating to a “hold” rating in a research report on Sunday. BTIG Research reissued a “buy” rating and set a $39.00 target price on shares of Enovis in a research note on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Enovis presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Enovis Stock Up 8.3%

The company’s 50 day moving average price is $23.28 and its two-hundred day moving average price is $23.90. The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.25 billion, a P/E ratio of -1.09 and a beta of 1.39.

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. The company had revenue of $589.15 million for the quarter, compared to analysts’ expectations of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.Enovis’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, research analysts expect that Enovis Corporation will post 3.12 earnings per share for the current year.

Insider Activity

In other news, insider Oliver Engert purchased 1,200 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 51,840 shares of the company’s stock, valued at $1,120,780.80. This represents a 2.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 4,200 shares of company stock worth $92,084. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Enovis

Several institutional investors and hedge funds have recently made changes to their positions in ENOV. Allspring Global Investments Holdings LLC increased its position in Enovis by 11.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock valued at $20,086,000 after purchasing an additional 78,497 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Enovis in the 4th quarter worth approximately $2,929,000. Invenomic Capital Management LP boosted its stake in shares of Enovis by 22.7% during the third quarter. Invenomic Capital Management LP now owns 712,669 shares of the company’s stock valued at $21,622,000 after purchasing an additional 131,705 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Enovis by 36.5% during the fourth quarter. Impax Asset Management Group plc now owns 424,130 shares of the company’s stock valued at $11,299,000 after purchasing an additional 113,500 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Enovis by 14.6% during the fourth quarter. Royce & Associates LP now owns 826,848 shares of the company’s stock valued at $22,027,000 after buying an additional 105,608 shares during the period. 98.45% of the stock is currently owned by institutional investors.

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.