Enovis (NYSE:ENOV) Stock Price Up 5.8% – Here’s What Happened

Enovis Corporation (NYSE:ENOV) shares rose 5.8% on Wednesday . The stock traded as high as $27.20 and last traded at $27.5750. Approximately 75,682 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,071,940 shares. The stock had previously closed at $26.07.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ENOV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research report on Wednesday, October 8th. Canaccord Genuity Group dropped their target price on shares of Enovis from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.83.

Enovis Trading Down 2.1%

The business has a 50-day moving average of $29.76 and a two-hundred day moving average of $30.38. The company has a quick ratio of 1.16, a current ratio of 2.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.13 and a beta of 1.52.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Monday, January 8th. The company reported $0.59 EPS for the quarter. The company had revenue of $383.81 million during the quarter. Enovis had a positive return on equity of 7.79% and a negative net margin of 61.22%. Research analysts predict that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at Enovis

In other Enovis news, insider John Kleckner acquired 2,468 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $30.32 per share, for a total transaction of $74,829.76. Following the purchase, the insider owned 12,302 shares in the company, valued at $372,996.64. This represents a 25.10% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel A. Pryor sold 999 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total transaction of $27,172.80. The SEC filing for this sale provides additional information. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Enovis

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in shares of Enovis by 42.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock worth $37,000 after buying an additional 367 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 707 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Enovis in the 2nd quarter valued at $46,000. SJS Investment Consulting Inc. grew its holdings in shares of Enovis by 30,340.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,522 shares of the company’s stock worth $46,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Enovis by 235.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,703 shares of the company’s stock worth $52,000 after purchasing an additional 1,195 shares in the last quarter. 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.