Enovis (NYSE:ENOV) Stock Price Down 4.2% – Should You Sell?

Enovis Corporation (NYSE:ENOV) dropped 4.2% during trading on Thursday . The company traded as low as $21.17 and last traded at $21.0550. Approximately 73,497 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,042,203 shares. The stock had previously closed at $21.97.

Analyst Ratings Changes

ENOV has been the subject of a number of analyst reports. Needham & Company LLC increased their price target on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Evercore reiterated an “outperform” rating and set a $36.00 price target on shares of Enovis in a research note on Friday, May 8th. William Blair started coverage on Enovis in a research note on Friday, April 17th. They set an “outperform” rating for the company. Wall Street Zen downgraded Enovis from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Wells Fargo & Company cut their price target on Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Enovis Trading Down 3.2%

The firm has a market cap of $1.22 billion, a P/E ratio of -1.07 and a beta of 1.38. 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 firm has a 50 day simple moving average of $24.10 and a 200 day simple moving average of $24.68.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business 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%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, equities research analysts predict that Enovis Corporation will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovis

Several hedge funds have recently made changes to their positions in ENOV. AQR Capital Management LLC increased its stake in shares of Enovis by 12.5% during the first quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock valued at $2,363,000 after buying an additional 7,072 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Enovis by 37.6% during the first quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock valued at $10,226,000 after purchasing an additional 73,116 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Enovis by 13.0% during the first quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after purchasing an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after purchasing an additional 707 shares in the last quarter. Finally, Amundi boosted its position in shares of Enovis by 24,405.0% during the second quarter. Amundi now owns 9,802 shares of the company’s stock valued at $328,000 after purchasing an additional 9,762 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other 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.