Enovis (NYSE:ENOV) Stock Price Down 3.3% – Here’s What Happened

Shares of Enovis Corporation (NYSE:ENOV) fell 3.3% during mid-day trading on Thursday . The stock traded as low as $18.21 and last traded at $18.0420. Approximately 40,974 shares were traded during trading, a decline of 96% from the average session volume of 1,166,222 shares. The stock had previously closed at $18.66.

Wall Street Analyst Weigh In

Several analysts have weighed in on ENOV shares. BTIG Research lowered their target price on Enovis from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, September 1st. Citigroup reiterated a “market outperform” rating on shares of Enovis in a research report on Wednesday, September 2nd. Wells Fargo & Company lowered their price objective on shares of Enovis from $39.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Evercore set a $32.00 target price on shares of Enovis in a research report on Monday, July 6th. Finally, Canaccord Genuity Group reduced their price target on shares of Enovis from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

Enovis Stock Performance

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 fifty day moving average price of $24.85 and a two-hundred day moving average price of $24.00. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.94 and a beta of 1.31.

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

Insider Transactions at Enovis

In other news, insider Oliver Engert acquired 2,660 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was acquired at an average price of $18.80 per share, with a total value of $50,008.00. Following the completion of the transaction, the insider directly owned 63,898 shares in the company, valued at approximately $1,201,282.40. This represents a 4.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Damien Mcdonald acquired 13,035 shares of Enovis stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average cost of $19.15 per share, for a total transaction of $249,620.25. Following the purchase, the chief executive officer directly owned 247,077 shares of the company’s stock, valued at approximately $4,731,524.55. This trade represents a 5.57% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 23,293 shares of company stock valued at $449,599. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enovis

A number of hedge funds and other institutional investors have recently made changes to their positions in ENOV. Allworth Financial LP raised its stake in Enovis by 59.7% during the 2nd quarter. Allworth Financial LP now owns 1,744 shares of the company’s stock valued at $36,000 after purchasing an additional 652 shares during the period. IFP Advisors Inc grew its holdings in shares of Enovis by 5,590.5% during the second quarter. IFP Advisors Inc now owns 1,195 shares of the company’s stock valued at $25,000 after buying an additional 1,174 shares in the last quarter. Amundi raised its position in Enovis by 2.3% during the first quarter. Amundi now owns 74,184 shares of the company’s stock valued at $1,688,000 after buying an additional 1,677 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Enovis by 9.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,117 shares of the company’s stock valued at $437,000 after purchasing an additional 1,800 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Enovis in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Company Profile

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company’s product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.