Enovis (NYSE:ENOV) Stock Rating Upgraded by Zacks Research

Enovis (NYSE:ENOV) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ENOV. Weiss Ratings upgraded Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. UBS Group reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Enovis in a research report on Tuesday. Evercore set a $32.00 price target on shares of Enovis in a report on Monday, July 6th. BMO Capital Markets initiated coverage on shares of Enovis in a report on Wednesday, July 8th. They set an “outperform” rating and a $29.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and set a $39.00 target price on shares of Enovis in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.86.

Enovis Stock Performance

NYSE:ENOV opened at $29.32 on Wednesday. The firm’s 50-day moving average is $23.96 and its 200-day moving average is $23.78. Enovis has a 52-week low of $19.14 and a 52-week high of $34.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 2.04. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -1.47 and a beta of 1.39.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $572.02 million. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Equities research analysts anticipate that Enovis will post 3.12 earnings per share for the current year.

Insider Activity at Enovis

In other news, insider Oliver Engert bought 1,200 shares of the 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 acquisition, the insider owned 51,840 shares in the company, valued at $1,120,780.80. This trade represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 4,200 shares of company stock valued at $92,084. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enovis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP acquired a new stake in shares of Enovis during the third quarter worth approximately $83,435,000. Paradigm Capital Management Inc. NY boosted its holdings in shares of Enovis by 70.2% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company’s stock worth $40,420,000 after acquiring an additional 732,917 shares in the last quarter. AQR Capital Management LLC grew its position in Enovis by 682.6% during the 2nd quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after acquiring an additional 434,646 shares during the last quarter. Front Street Capital Management Inc. increased its holdings in Enovis by 106.1% during the 1st quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock valued at $16,973,000 after purchasing an additional 384,124 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Enovis by 130.8% during the 1st quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock valued at $13,752,000 after purchasing an additional 342,556 shares in the last quarter. 98.45% of the stock is currently 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.