Enovis (NYSE:ENOV) Stock Price Down 7.3% – Should You Sell?

Enovis Corporation (NYSE:ENOV) shares traded down 7.3% during mid-day trading on Monday . The stock traded as low as $27.38 and last traded at $27.5130. 276,840 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 809,554 shares. The stock had previously closed at $29.68.

Analyst Ratings Changes

Several research firms have recently weighed in on ENOV. Canaccord Genuity Group decreased their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. UBS Group reissued a “buy” rating and issued a $50.00 price objective on shares of Enovis in a report on Monday, January 5th. Finally, BTIG Research assumed coverage on Enovis in a report on Tuesday, January 6th. They issued a “buy” rating and a $41.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Enovis Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.22 and a quick ratio of 1.16. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.14 and a beta of 1.52. The business has a fifty day moving average price of $28.36 and a 200 day moving average price of $29.88.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. The business had revenue of $383.81 million for the quarter. Enovis has set its FY 2025 guidance at 3.100-3.250 EPS. On average, research analysts expect that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Enovis

In other Enovis news, insider John Kleckner purchased 2,468 shares of the stock in a transaction on Tuesday, November 25th. The stock was bought at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the acquisition, the insider directly owned 12,302 shares of the company’s stock, valued at $372,996.64. The trade was a 25.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of Enovis stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total transaction of $27,172.80. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enovis

Several institutional investors have recently made changes to their positions in ENOV. Farther Finance Advisors LLC increased its stake in shares of Enovis by 42.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock valued at $37,000 after purchasing an additional 367 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Enovis by 125.4% in the 2nd 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 during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Enovis during the 2nd quarter worth about $46,000. SJS Investment Consulting Inc. increased its stake in Enovis by 30,340.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Enovis by 353.5% in the fourth quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock worth $49,000 after purchasing an additional 1,446 shares during 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.