Enovis (NYSE:ENOV) Rating Lowered to “Hold” at Zacks Research

Enovis (NYSE:ENOV) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on ENOV. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovis in a report on Friday, April 10th. Evercore reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enovis in a research report on Friday, May 8th. Wall Street Zen raised Enovis from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. William Blair started coverage on Enovis in a research report on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on Enovis from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enovis has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Enovis Stock Performance

Shares of Enovis stock opened at $21.87 on Monday. The business’s fifty day simple moving average is $24.02 and its 200 day simple moving average is $24.98. The firm has a market capitalization of $1.26 billion, a P/E ratio of -1.10 and a beta of 1.38. Enovis has a 12 month low of $20.82 and a 12 month high of $36.82. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $589.15 million for the quarter, compared to analyst estimates of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.Enovis’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. As a group, analysts anticipate that Enovis will post 3.65 EPS for the current year.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arax Advisory Partners bought a new stake in shares of Enovis during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its position in shares of Enovis by 125.4% during 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 period. GAMMA Investing LLC increased its position in shares of Enovis by 353.5% during the fourth quarter. GAMMA Investing LLC now owns 1,855 shares of the company’s stock valued at $49,000 after buying an additional 1,446 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Enovis during the third quarter valued at about $64,000. Finally, Danske Bank A S bought a new stake in shares of Enovis during the third quarter valued at about $64,000. 98.45% of the stock is currently owned by institutional investors.

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.