Canaccord Genuity Group Cuts Enovis (NYSE:ENOV) Price Target to $45.00

Enovis (NYSE:ENOV) had its price objective trimmed by Canaccord Genuity Group from $50.00 to $45.00 in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on ENOV. UBS Group reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Enovis in a research note on Tuesday, July 28th. Weiss Ratings upgraded Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company cut their price target on Enovis from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Zacks Research upgraded Enovis from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $30.00 price objective on shares of Enovis in a research note on Friday, August 7th. Eight equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Enovis Price Performance

Shares of NYSE ENOV opened at $26.53 on Monday. The firm has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $24.11. The company has a quick ratio of 1.00, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.38 and a beta of 1.34. Enovis has a 52 week low of $19.14 and a 52 week high of $34.28.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Enovis had a negative net margin of 47.96% and a positive return on equity of 12.03%. The firm had revenue of $582.78 million for the quarter, compared to analyst estimates of $581.84 million. During the same period in the previous year, the business posted $0.79 earnings per share. Enovis’s quarterly revenue was up 3.2% on a year-over-year basis. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, equities analysts predict that Enovis will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Oliver Engert bought 1,200 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $21.62 per share, for a total transaction of $25,944.00. Following the acquisition, the insider directly owned 51,840 shares of the company’s stock, valued at $1,120,780.80. This trade represents a 2.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 4,200 shares of company stock worth $92,084 over the last quarter. 2.90% of the stock is owned by insiders.

Institutional Trading of Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in ENOV. Arax Advisory Partners acquired a new position in Enovis in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its stake in Enovis by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company’s stock worth $40,000 after acquiring an additional 707 shares during the last quarter. Allworth Financial LP acquired a new stake in Enovis during the second quarter worth $36,000. Danske Bank A S purchased a new stake in Enovis in the third quarter valued at $64,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Enovis in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Enovis

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.