Enovis (NYSE:ENOV) Trading 13.7% Higher After Earnings Beat

Shares of Enovis Corporation (NYSE:ENOV) rose 13.7% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $25.31 and last traded at $25.38. Approximately 254,281 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,090,022 shares. The stock had previously closed at $22.32.

The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. The firm had revenue of $575.76 million for the quarter, compared to the consensus estimate of $584.30 million. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS.

Analysts Set New Price Targets

ENOV has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 7th. UBS Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Enovis in a research note on Monday, January 5th. Canaccord Genuity Group lowered their price target on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Evercore restated an “outperform” rating on shares of Enovis in a research report on Monday, January 12th. Finally, BTIG Research initiated coverage on shares of Enovis in a report on Tuesday, January 6th. They issued a “buy” rating and a $41.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Insider Buying and Selling at Enovis

In other news, EVP Daniel A. Pryor sold 999 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total value of $27,172.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Enovis

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Enovis by 2.0% during the third quarter. Vanguard Group Inc. now owns 6,524,235 shares of the company’s stock worth $197,945,000 after purchasing an additional 125,460 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Enovis by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock valued at $90,156,000 after buying an additional 51,201 shares during the period. Rubric Capital Management LP acquired a new position in Enovis during the 3rd quarter worth about $83,435,000. Hood River Capital Management LLC boosted its holdings in Enovis by 20.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,735,533 shares of the company’s stock valued at $54,426,000 after acquiring an additional 292,950 shares during the period. Finally, River Road Asset Management LLC grew its position in Enovis by 3.2% in the 4th quarter. River Road Asset Management LLC now owns 1,487,277 shares of the company’s stock valued at $39,621,000 after acquiring an additional 46,289 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Price Performance

The company has a market capitalization of $1.43 billion, a PE ratio of -1.06 and a beta of 1.52. 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 stock’s 50 day simple moving average is $24.34 and its 200-day simple moving average is $28.23.

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.