Enovis (NYSE:ENOV) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Enovis (NYSE:ENOV) from a strong sell rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Evercore set a $32.00 price target on shares of Enovis in a report on Monday, July 6th. Weiss Ratings upgraded Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. BMO Capital Markets initiated coverage on Enovis in a report on Wednesday, July 8th. They issued an “outperform” rating and a $29.00 target price for the company. UBS Group reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Enovis in a research report on Tuesday. Finally, Wall Street Zen raised Enovis from a “hold” rating to a “buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.86.

Enovis Stock Down 3.1%

Shares of NYSE ENOV opened at $29.32 on Wednesday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -1.47 and a beta of 1.39. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. Enovis has a 12 month low of $19.14 and a 12 month high of $34.28. The stock has a 50-day moving average price of $23.96 and a two-hundred day moving average price of $23.78.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $589.15 million for the quarter, compared to the consensus estimate of $572.02 million. Enovis had a negative net margin of 49.92% and a positive return on equity of 10.32%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, analysts forecast that Enovis will post 3.12 earnings per share for the current fiscal year.

Insider Transactions at Enovis

In other news, insider Oliver Engert purchased 1,200 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the acquisition, the insider owned 51,840 shares in the company, valued at $1,120,780.80. This trade represents a 2.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 4,200 shares of company stock worth $92,084. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enovis

Several large investors have recently modified their holdings of ENOV. Allspring Global Investments Holdings LLC lifted its stake in shares of Enovis by 11.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 757,673 shares of the company’s stock valued at $20,086,000 after purchasing an additional 78,497 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Enovis during the fourth quarter worth approximately $2,929,000. Impax Asset Management Group plc increased its holdings in Enovis by 36.5% in the fourth quarter. Impax Asset Management Group plc now owns 424,130 shares of the company’s stock worth $11,299,000 after purchasing an additional 113,500 shares in the last quarter. Bernzott Capital Advisors lifted its stake in Enovis by 47.4% in the first quarter. Bernzott Capital Advisors now owns 294,125 shares of the company’s stock valued at $6,691,000 after buying an additional 94,529 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Enovis by 50,442.8% in the first quarter. Fifth Third Bancorp now owns 83,901 shares of the company’s stock valued at $1,909,000 after buying an additional 83,735 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.