Enovis Corporation (NYSE:ENOV – Get Free Report)’s stock price was down 9.3% during trading on Thursday . The company traded as low as $26.48 and last traded at $27.3720. 74,306 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,078,881 shares. The stock had previously closed at $30.18.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. UBS Group reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Enovis in a research note on Tuesday, July 28th. William Blair initiated coverage on Enovis in a research note on Friday, April 17th. They set an “outperform” rating for the company. Wall Street Zen raised Enovis from a “hold” rating to a “buy” rating in a research report on Monday, July 6th. Zacks Research upgraded Enovis from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, BMO Capital Markets assumed coverage on Enovis in a report on Wednesday, July 8th. They issued an “outperform” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and a consensus target price of $41.86.
Check Out Our Latest Analysis on ENOV
Enovis Trading Down 6.1%
Enovis (NYSE:ENOV – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The company had revenue of $582.78 million for the quarter, compared to analyst estimates of $581.84 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. Enovis’s revenue was up 3.2% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Analysts expect that Enovis Corporation will post 3.12 earnings per share for the current year.
Insider Activity at Enovis
In other Enovis news, insider Oliver Engert acquired 1,200 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $21.62 per share, with a total value of $25,944.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 4,200 shares of company stock valued at $92,084. 2.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Enovis
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new stake in shares of Enovis in the second quarter valued at about $291,000. Handelsbanken Fonder AB increased its stake in shares of Enovis by 9.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,117 shares of the company’s stock worth $437,000 after purchasing an additional 1,800 shares in the last quarter. Front Street Capital Management Inc. raised its position in shares of Enovis by 106.1% during the 1st quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company’s stock worth $16,973,000 after purchasing an additional 384,124 shares during the last quarter. Amundi lifted its stake in Enovis by 2.3% in the 1st quarter. Amundi now owns 74,184 shares of the company’s stock valued at $1,688,000 after buying an additional 1,677 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Enovis by 38.9% in the 1st quarter. California State Teachers Retirement System now owns 76,966 shares of the company’s stock valued at $1,751,000 after buying an additional 21,571 shares in the last quarter. Institutional investors and hedge funds 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.
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