Enovis (NYSE:ENOV) Rating Increased to Strong-Buy at BTIG Research

Enovis (NYSE:ENOV) was upgraded by stock analysts at BTIG Research to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

ENOV has been the topic of several other reports. UBS Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Enovis in a research report on Monday. Wells Fargo & Company increased their price objective on shares of Enovis from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group lowered their target price on shares of Enovis from $58.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Evercore ISI set a $40.00 price target on shares of Enovis in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Enovis Trading Down 0.7%

NYSE ENOV opened at $27.73 on Tuesday. Enovis has a 52 week low of $25.47 and a 52 week high of $49.38. The company has a 50 day moving average price of $28.42 and a 200 day moving average price of $29.92. 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 cap of $1.59 billion, a PE ratio of -1.17 and a beta of 1.52.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Monday, January 8th. The company reported $0.59 earnings per share (EPS) for the quarter. Enovis had a negative net margin of 61.22% and a positive return on equity of 7.79%. The business had revenue of $383.81 million for the quarter. As a group, sell-side analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Insider Activity at Enovis

In related news, EVP Daniel A. Pryor sold 999 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kleckner purchased 2,468 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $30.32 per share, for a total transaction of $74,829.76. Following the completion of the transaction, the insider directly owned 12,302 shares in the company, valued at $372,996.64. This trade represents a 25.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new position in Enovis in the 3rd quarter worth about $83,435,000. Tributary Capital Management LLC increased its position in shares of Enovis by 91.5% in the third quarter. Tributary Capital Management LLC now owns 1,154,482 shares of the company’s stock valued at $35,027,000 after buying an additional 551,613 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Enovis by 191.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 810,771 shares of the company’s stock worth $26,772,000 after buying an additional 532,648 shares during the period. AQR Capital Management LLC raised its stake in shares of Enovis by 682.6% during the 2nd quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after buying an additional 434,646 shares during the period. Finally, Boston Partners lifted its position in shares of Enovis by 42.4% during the 2nd quarter. Boston Partners now owns 1,382,724 shares of the company’s stock valued at $43,352,000 after buying an additional 411,744 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.