Enovis (NYSE:ENOV) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Enovis (NYSE:ENOV) had its target price boosted by stock analysts at Wells Fargo & Company from $41.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 49.92% from the stock’s previous close.

Several other analysts have also weighed in on ENOV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. Needham & Company LLC dropped 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. UBS Group reduced their price objective on Enovis from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Enovis from $70.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.17.

Enovis Price Performance

Shares of NYSE ENOV traded down $0.41 during midday trading on Friday, reaching $28.02. 1,092,886 shares of the company traded hands, compared to its average volume of 1,104,868. Enovis has a 12 month low of $25.47 and a 12 month high of $49.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The stock’s 50-day simple moving average is $31.39 and its 200-day simple moving average is $31.50. The firm has a market cap of $1.60 billion, a PE ratio of -1.97 and a beta of 1.67.

Enovis (NYSE:ENOV) last announced its 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 37.80% and a positive return on equity of 6.78%. The business had revenue of $383.81 million during the quarter. As a group, equities analysts anticipate that Enovis will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the transaction, the senior vice president directly owned 43,515 shares in the company, valued at $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $29.71 per share, with a total value of $74,275.00. Following the completion of the purchase, the chief financial officer owned 116,729 shares of the company’s stock, valued at $3,468,018.59. The trade was a 2.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 12,157 shares of company stock worth $374,760 over the last three months. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Enovis

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Enovis by 144.8% in the 1st quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $45,000 after purchasing an additional 692 shares during the period. New York State Teachers Retirement System increased its holdings 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 valued at $690,000 after purchasing an additional 4,517 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Enovis in the first quarter valued at about $312,000. Principal Financial Group Inc. boosted its holdings in Enovis by 118.6% during the first quarter. Principal Financial Group Inc. now owns 282,406 shares of the company’s stock worth $10,791,000 after buying an additional 153,232 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Enovis by 1.8% during the first quarter. Envestnet Asset Management Inc. now owns 336,711 shares of the company’s stock worth $12,866,000 after buying an additional 5,894 shares during the last quarter. Institutional investors and hedge funds 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.