Enovis (NYSE:ENOV) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Enovis (NYSE:ENOV) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of Enovis from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Wall Street Zen raised shares of Enovis from a “hold” rating to a “buy” rating in a report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Enovis in a research report on Wednesday. Evercore set a $32.00 target price on shares of Enovis in a research note on Monday. Finally, Wells Fargo & Company reduced their price target on shares of Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Enovis presently has an average rating of “Moderate Buy” and an average price target of $41.71.

Enovis Price Performance

NYSE:ENOV opened at $25.17 on Wednesday. The business’s 50-day simple moving average is $23.34 and its two-hundred day simple moving average is $23.79. Enovis has a 52 week low of $19.14 and a 52 week high of $36.82. The stock has a market cap of $1.45 billion, a PE ratio of -1.27 and a beta of 1.39. The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The firm had revenue of $589.15 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, analysts forecast that Enovis will post 3.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Oliver Engert purchased 1,200 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the completion of the transaction, the insider owned 51,840 shares in the company, valued at approximately $1,120,780.80. The trade was a 2.37% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 4,200 shares of company stock worth $92,084. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enovis

Several institutional investors have recently made changes to their positions in ENOV. Allspring Global Investments Holdings LLC lifted its stake in Enovis by 11.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock worth $20,086,000 after purchasing an additional 78,497 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Enovis during the fourth quarter valued at approximately $2,929,000. Invenomic Capital Management LP raised its holdings in shares of Enovis by 22.7% in the third quarter. Invenomic Capital Management LP now owns 712,669 shares of the company’s stock worth $21,622,000 after buying an additional 131,705 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Enovis by 36.5% during the 4th quarter. Impax Asset Management Group plc now owns 424,130 shares of the company’s stock worth $11,299,000 after acquiring an additional 113,500 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Enovis by 14.6% during the 4th quarter. Royce & Associates LP now owns 826,848 shares of the company’s stock valued at $22,027,000 after acquiring an additional 105,608 shares during the period. 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.