Insider Buying: Enovis (NYSE:ENOV) CFO Acquires $74,275.00 in Stock

Enovis Corporation (NYSE:ENOV) CFO Phillip Benjamin (Ben) Berry bought 2,500 shares of Enovis stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the transaction, the chief financial officer directly owned 116,729 shares in the company, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Enovis Stock Up 6.5%

NYSE:ENOV opened at $31.4080 on Friday. The firm’s 50-day moving average price is $30.06 and its 200-day moving average price is $34.10. The company has a market capitalization of $1.80 billion, a PE ratio of -2.20 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. Enovis Corporation has a 1-year low of $25.47 and a 1-year high of $49.83.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $564.50 million for the quarter, compared to the consensus estimate of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, equities analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its stake in Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 536 shares during the period. Quarry LP lifted its stake in shares of Enovis by 506.1% in the 4th quarter. Quarry LP now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares during the period. GAMMA Investing LLC lifted its stake in shares of Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock worth $45,000 after purchasing an additional 692 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Enovis by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after purchasing an additional 707 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Enovis in the 2nd quarter worth approximately $46,000. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ENOV. Needham & Company LLC cut their price objective on shares of Enovis from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Evercore ISI cut their price objective on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. JMP Securities cut their price objective on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of Enovis from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $51.00.

About Enovis

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.