Wells Fargo & Company Upgrades Enovis (NYSE:ENOV) to Overweight

Enovis (NYSE:ENOV – Get Rating) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, The Fly reports. The firm currently has a $67.00 price objective on the stock, up from their prior price objective of $55.00. Wells Fargo & Company‘s price target would suggest a potential upside of 18.52% from the stock’s current price.

A number of other equities analysts also recently weighed in on ENOV. Canaccord Genuity Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Enovis in a research report on Tuesday, March 28th. Robert W. Baird lifted their price target on Enovis from $64.00 to $67.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Enovis has an average rating of “Moderate Buy” and an average target price of $64.88.

Enovis Trading Up 1.3 %

Shares of ENOV stock opened at $56.53 on Friday. Enovis has a 1 year low of $43.88 and a 1 year high of $68.15. The firm’s fifty day simple moving average is $54.76 and its 200 day simple moving average is $56.04. The firm has a market capitalization of $3.08 billion, a P/E ratio of -58.89 and a beta of 2.01. The company has a current ratio of 2.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.

Enovis (NYSE:ENOV – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $406.20 million for the quarter, compared to the consensus estimate of $389.95 million. Enovis had a negative net margin of 3.24% and a positive return on equity of 3.70%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, sell-side analysts predict that Enovis will post 2.2 EPS for the current year.

Insider Buying and Selling

In other Enovis news, Director A Clayton Perfall sold 2,793 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $52.12, for a total value of $145,571.16. Following the transaction, the director now owns 32,033 shares of the company’s stock, valued at $1,669,559.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Enovis news, COO Brady Shirley sold 1,490 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $62.11, for a total value of $92,543.90. Following the transaction, the chief operating officer now directly owns 47,965 shares in the company, valued at approximately $2,979,106.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Clayton Perfall sold 2,793 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $52.12, for a total value of $145,571.16. Following the transaction, the director now owns 32,033 shares in the company, valued at $1,669,559.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,881 shares of company stock worth $3,738,005. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enovis

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Enovis by 1,002.2% in the 1st quarter. Renaissance Technologies LLC now owns 113,167 shares of the company’s stock valued at $6,053,000 after purchasing an additional 102,900 shares during the period. Stifel Financial Corp increased its position in Enovis by 33.2% during the 1st quarter. Stifel Financial Corp now owns 39,280 shares of the company’s stock valued at $2,101,000 after buying an additional 9,784 shares in the last quarter. BlackRock Inc. increased its position in Enovis by 4.9% during the 1st quarter. BlackRock Inc. now owns 5,174,172 shares of the company’s stock valued at $276,766,000 after buying an additional 241,816 shares in the last quarter. Bank of America Corp DE increased its position in Enovis by 37.8% during the 1st quarter. Bank of America Corp DE now owns 418,699 shares of the company’s stock valued at $22,396,000 after buying an additional 114,910 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Enovis during the 1st quarter valued at approximately $629,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

About Enovis

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Enovis Corporation operates as a medical technology company worldwide. It develops, manufactures, and distributes medical device products used by orthopedic specialists, surgeons, primary care physicians, pain management specialists, physical therapists, podiatrists, chiropractors, athletic trainers, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports related injuries.