Enovis (NYSE:ENOV) Downgraded by Zacks Research to Strong Sell

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

ENOV has been the topic of several other reports. Evercore reiterated an “outperform” rating and issued 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 report on Friday, April 17th. They issued an “outperform” rating on the stock. BTIG Research reiterated a “buy” rating and set a $39.00 target price on shares of Enovis in a report on Friday, May 22nd. Wall Street Zen lowered Enovis from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Enovis in a research report on Friday, April 10th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Enovis has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Enovis Stock Performance

ENOV opened at $20.00 on Tuesday. The business’s 50-day moving average price is $23.28 and its two-hundred day moving average price is $23.90. Enovis has a 1 year low of $19.14 and a 1 year high of $36.82. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -1.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.05.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. The company had revenue of $589.15 million during 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 for the quarter was up 5.4% compared to the same quarter last year. During the same period 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. Equities analysts expect that Enovis will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Enovis

In related news, insider Oliver Engert acquired 1,200 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $21.62 per share, with a total value of $25,944.00. Following the completion of the transaction, the insider directly owned 51,840 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Insiders have bought 4,200 shares of company stock valued at $92,084 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Enovis

Several institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new position in Enovis during the 3rd quarter worth $83,435,000. Paradigm Capital Management Inc. NY boosted its position in shares of Enovis by 70.2% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company’s stock valued at $40,420,000 after acquiring an additional 732,917 shares during the period. AQR Capital Management LLC boosted its position in shares of Enovis by 682.6% in the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock valued at $15,627,000 after acquiring an additional 434,646 shares during the period. Front Street Capital Management Inc. grew its stake in shares of Enovis by 106.1% in the first quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock valued at $16,973,000 after acquiring an additional 384,124 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Enovis by 130.8% in the first quarter. Quantinno Capital Management LP now owns 604,500 shares of the company’s stock valued at $13,752,000 after acquiring an additional 342,556 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.