Enovis (NYSE:ENOV) Reaches New 1-Year Low – What’s Next?

Shares of Enovis Corporation (NYSE:ENOV) reached a new 52-week low during trading on Tuesday . The company traded as low as $22.18 and last traded at $22.3890, with a volume of 38311 shares traded. The stock had previously closed at $22.72.

Analyst Ratings Changes

A number of research firms have recently issued reports on ENOV. UBS Group restated a “buy” rating and set a $50.00 target price on shares of Enovis in a research note on Monday, January 5th. Evercore ISI reissued an “outperform” rating on shares of Enovis in a report on Monday, January 12th. Wells Fargo & Company boosted their price objective on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. BTIG Research started coverage on Enovis in a research report on Tuesday, January 6th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Enovis Stock Up 5.7%

The stock has a 50-day moving average of $26.65 and a 200-day moving average of $28.96. 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 firm has a market cap of $1.30 billion, a price-to-earnings ratio of 6.44 and a beta of 1.52.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $548.91 million during the quarter, compared to analysts’ expectations of $538.61 million. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%.The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS. Enovis has set its FY 2025 guidance at 3.100-3.250 EPS. Sell-side analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Daniel A. Pryor sold 999 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $27.20, for a total transaction of $27,172.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kleckner acquired 2,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the purchase, the insider directly owned 12,302 shares of the company’s stock, valued at $372,996.64. The trade was a 25.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

Several large investors have recently bought and sold shares of the business. Capital Fund Management S.A. bought a new position in shares of Enovis during the second quarter valued at $1,682,000. Assenagon Asset Management S.A. acquired a new stake in Enovis in the third quarter valued at $4,045,000. Rhumbline Advisers raised its position in Enovis by 32.4% during the 2nd quarter. Rhumbline Advisers now owns 172,341 shares of the company’s stock worth $5,405,000 after purchasing an additional 42,138 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Enovis by 56.0% during the 2nd quarter. Osaic Holdings Inc. now owns 139,727 shares of the company’s stock worth $4,382,000 after buying an additional 50,156 shares during the period. Finally, Boston Partners lifted its holdings in Enovis by 42.4% during the 2nd quarter. Boston Partners now owns 1,382,724 shares of the company’s stock worth $43,352,000 after buying an additional 411,744 shares during the period. 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.