Weiss Ratings Reiterates “Sell (D-)” Rating for Enovis (NYSE:ENOV)

Enovis (NYSE:ENOV)‘s stock had its “sell (d-)” rating reissued by stock analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

A number of other brokerages have also weighed in on ENOV. UBS Group cut their target price on shares of Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group cut their price objective on shares of Enovis from $70.00 to $58.00 and set a “buy” rating for the company in a report on Friday, August 8th. Wells Fargo & Company cut their price target on Enovis from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Evercore ISI cut their price target on Enovis from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Finally, Needham & Company LLC cut their price target on Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enovis currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Enovis Price Performance

Shares of NYSE ENOV opened at $32.91 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -2.31 and a beta of 1.69. Enovis has a 1-year low of $25.47 and a 1-year high of $49.83. The stock has a fifty day simple moving average of $31.23 and a two-hundred day simple moving average of $31.55.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share for the quarter. The company had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%. Analysts anticipate that Enovis will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Bradley J. Tandy purchased 3,200 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $31.41 per share, with a total value of $100,512.00. Following the completion of the purchase, the senior vice president directly owned 43,515 shares in the company, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $29.71 per share, with a total value of $74,275.00. Following the purchase, the chief financial officer owned 116,729 shares of the company’s stock, valued at approximately $3,468,018.59. The trade was a 2.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 12,157 shares of company stock valued at $374,760 over the last 90 days. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock worth $45,000 after purchasing an additional 692 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Enovis by 6.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,782 shares of the company’s stock worth $832,000 after buying an additional 1,366 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in Enovis in the 1st quarter worth approximately $1,138,000. Avidian Wealth Enterprises LLC lifted its holdings in Enovis by 12.3% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 6,714 shares of the company’s stock worth $257,000 after buying an additional 736 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in Enovis by 33.4% in the first quarter. New York State Teachers Retirement System now owns 18,055 shares of the company’s stock worth $690,000 after acquiring an additional 4,517 shares during the period. Institutional investors own 98.45% of the company’s stock.

Enovis Company Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.