Insider Buying: Enovis (NYSE:ENOV) Director Purchases $25,084.36 in Stock

Enovis Corporation (NYSE:ENOV) Director Angela Lalor purchased 887 shares of Enovis stock in a transaction on Tuesday, November 10th. The shares were acquired at an average price of $28.28 per share, for a total transaction of $25,084.36. Following the completion of the transaction, the director directly owned 32,373 shares of the company’s stock, valued at approximately $915,508.44. The trade was a 2.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Enovis Price Performance

Shares of ENOV stock traded up $0.10 during trading hours on Friday, hitting $27.74. 1,205,392 shares of the company’s stock were exchanged, compared to its average volume of 1,879,055. The company has a market capitalization of $1.60 billion, a PE ratio of -3.01 and a beta of 1.31. The company has a current ratio of 2.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.82. Enovis Corporation has a 12-month low of $16.70 and a 12-month high of $31.67. The business’s 50 day simple moving average is $20.52 and its 200-day simple moving average is $23.22.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. Enovis had a negative net margin of 22.86% and a positive return on equity of 13.23%. The company had revenue of $558.73 million during the quarter, compared to analysts’ expectations of $557.12 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Enovis Corporation will post 3.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ENOV. Canaccord Genuity Group reduced their price objective on Enovis from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Citizens Jmp decreased their price objective on Enovis from $55.00 to $47.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 2nd. Weiss Ratings raised Enovis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, November 2nd. Wall Street Zen upgraded Enovis from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, UBS Group restated a “buy” rating and set a $44.00 target price on shares of Enovis in a report on Monday, October 5th. Ten 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 company. According to MarketBeat.com, Enovis currently has an average rating of “Moderate Buy” and a consensus target price of $38.62.

Enovis News Summary

Investors following ENOV have been watching these news items:

• Positive Sentiment: Directors Angela S. Lalor and Sharon Wienbar bought a combined 3,531 shares in transactions on November 10 and 11, investing about $100,000. Insider buying can signal confidence, though the purchases are relatively small compared with the company’s overall market value. Lalor SEC filing Wienbar SEC filing
• Neutral Sentiment: Enovis management will present at the Jefferies Global Healthcare Conference on November 17. The announcement may give investors an opportunity to hear updates, but it included no new guidance or business developments. Conference announcement

Institutional Investors Weigh In On Enovis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Enovis by 5,590.5% during the 2nd 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 during the period. Allworth Financial LP bought a new stake in Enovis in the 2nd quarter worth $36,000. Integrated Wealth Concepts LLC purchased a new position in shares of Enovis in the second quarter valued at about $39,000. Public Employees Retirement System of Ohio purchased a new position in shares of Enovis in the second quarter valued at about $48,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Enovis in the third quarter valued at about $55,000. 98.45% of the stock is currently owned by institutional investors.

About Enovis

Enovis is a medical technology company that develops products and solutions for orthopedic care, surgery, recovery and rehabilitation. Its offerings include joint replacement implants, foot and ankle products, surgical instruments, orthopedic braces and supports, and rehabilitation equipment. The company serves healthcare providers and patients in markets around the world. Its products are designed to support treatment across different stages of musculoskeletal care, from surgical intervention to recovery and mobility.