Enovis (NYSE:ENOV) Trading Down 7.3% – Time to Sell?

Enovis Corporation (NYSE:ENOV)’s stock price fell 7.3% during trading on Monday . The company traded as low as $27.38 and last traded at $27.5130. 276,840 shares were traded during mid-day trading, a decline of 66% from the average session volume of 809,554 shares. The stock had previously closed at $29.68.

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price target on Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. UBS Group reissued a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of Enovis in a report on Monday. Finally, BTIG Research initiated coverage on shares of Enovis in a report on Tuesday, January 6th. They issued a “buy” rating and a $41.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.71.

Enovis Stock Down 9.2%

The company has a current ratio of 2.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -1.14 and a beta of 1.52. The firm’s 50 day simple moving average is $28.36 and its two-hundred day simple moving average is $29.88.

Enovis (NYSE:ENOV) last posted its earnings results on Monday, January 8th. The company reported $0.59 EPS for the quarter. The firm had revenue of $383.81 million during the quarter. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. Enovis has set its FY 2025 guidance at 3.100-3.250 EPS. On average, equities analysts forecast that Enovis Corporation will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Daniel A. Pryor sold 999 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total transaction of $27,172.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kleckner bought 2,468 shares of Enovis stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $30.32 per share, with a total value of $74,829.76. Following the acquisition, the insider directly owned 12,302 shares in the company, valued at approximately $372,996.64. This represents a 25.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Enovis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in Enovis by 42.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock valued at $37,000 after buying an additional 367 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after buying an additional 707 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Enovis in the 2nd quarter valued at about $46,000. SJS Investment Consulting Inc. increased its position in Enovis by 30,340.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock valued at $46,000 after buying an additional 1,517 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Enovis by 353.5% during the fourth quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock worth $49,000 after buying an additional 1,446 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.