Enovis Corporation (NYSE:ENOV – Get Free Report) traded down 7.1% on Wednesday . The stock traded as low as $23.67 and last traded at $23.70. 441,065 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 1,084,874 shares. The stock had previously closed at $25.52.
Wall Street Analysts Forecast Growth
ENOV has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovis in a research note on Friday, April 10th. Wall Street Zen upgraded Enovis from a “hold” rating to a “buy” rating in a research note on Monday. William Blair began coverage on Enovis in a report on Friday, April 17th. They set an “outperform” rating on the stock. Wells Fargo & Company decreased their price objective on Enovis from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, BTIG Research reissued a “buy” rating and set a $39.00 price objective on shares of Enovis in a research report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and an average price target of $43.83.
Enovis Trading Down 7.1%
Enovis (NYSE:ENOV – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The firm had revenue of $589.15 million during the quarter, compared to the consensus estimate of $572.02 million. During the same period in the prior year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, research analysts forecast that Enovis Corporation will post 3.12 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Oliver Engert acquired 1,200 shares of the firm’s stock in a transaction 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 purchase, the insider directly owned 51,840 shares of the company’s stock, valued at approximately $1,120,780.80. The trade was a 2.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 4,200 shares of company stock valued at $92,084 over the last three months. 2.90% of the stock is owned by insiders.
Institutional Trading of Enovis
A number of large investors have recently made changes to their positions in the company. Arax Advisory Partners purchased a new position in Enovis during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in Enovis by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock valued at $40,000 after buying an additional 707 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Enovis by 353.5% in the fourth quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock valued at $49,000 after acquiring an additional 1,446 shares during the period. Danske Bank A S purchased a new position in shares of Enovis during the third quarter worth approximately $64,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Enovis in the 3rd quarter valued at $80,000. 98.45% of the stock is owned by institutional investors and hedge funds.
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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