Zacks Research Downgrades Enovis (NYSE:ENOV) to Strong Sell

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

A number of other research firms have also weighed in on ENOV. BTIG Research reiterated a “buy” rating and issued a $39.00 price target on shares of Enovis in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Enovis in a research report on Friday, April 10th. William Blair assumed coverage on shares of Enovis in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Wall Street Zen lowered Enovis from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Evercore reissued an “outperform” rating and set a $36.00 price target on shares of Enovis in a report on Friday, May 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Enovis Stock Performance

Shares of ENOV opened at $20.00 on Tuesday. The business has a 50-day simple moving average of $23.28 and a two-hundred day simple moving average of $23.90. The company has a quick ratio of 1.05, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. Enovis has a 52 week low of $19.14 and a 52 week high of $36.82. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -1.01 and a beta of 1.39.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The firm had revenue of $589.15 million for the quarter, compared to analysts’ expectations of $572.02 million. Enovis had a positive return on equity of 10.32% and a negative net margin of 49.92%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, analysts expect that Enovis will post 3.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Oliver Engert purchased 1,200 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $21.62 per share, for a total transaction of $25,944.00. Following the purchase, the insider directly owned 51,840 shares in the company, valued at $1,120,780.80. This trade represents a 2.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 4,200 shares of company stock valued at $92,084. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Enovis

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Enovis by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,971,545 shares of the company’s stock worth $90,156,000 after buying an additional 51,201 shares in the last quarter. Rubric Capital Management LP purchased a new position in Enovis during the 3rd quarter valued at approximately $83,435,000. Paradigm Capital Management Inc. NY increased its stake in Enovis by 70.2% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,776,715 shares of the company’s stock worth $40,420,000 after acquiring an additional 732,917 shares during the last quarter. River Road Asset Management LLC increased its stake 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 worth $39,621,000 after acquiring an additional 46,289 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Enovis by 38.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,045,360 shares of the company’s stock worth $24,430,000 after acquiring an additional 287,687 shares in the last quarter. 98.45% of the stock is 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.