Canaccord Genuity Group Cuts Enovis (NYSE:ENOV) Price Target to $50.00

Enovis (NYSE:ENOV) had its price objective decreased by Canaccord Genuity Group from $58.00 to $50.00 in a research note released on Wednesday morning, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

ENOV has been the topic of several other reports. Wells Fargo & Company lifted their price objective on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Enovis presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.83.

Enovis Stock Performance

Shares of ENOV stock opened at $26.75 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.22 and a quick ratio of 1.16. The company’s fifty day moving average price is $29.70 and its two-hundred day moving average price is $30.36. The firm has a market capitalization of $1.53 billion, a P/E ratio of -1.13 and a beta of 1.52. Enovis has a 12 month low of $25.47 and a 12 month high of $49.38.

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

Insider Buying and Selling at Enovis

In other Enovis news, insider John Kleckner acquired 2,468 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average price of $30.32 per share, with a total value of $74,829.76. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel A. Pryor sold 999 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $27.20, for a total transaction of $27,172.80. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Enovis

A number of large investors have recently modified their holdings of ENOV. McIlrath & Eck LLC lifted its position in Enovis by 6.9% in the 3rd quarter. McIlrath & Eck LLC now owns 5,517 shares of the company’s stock valued at $167,000 after purchasing an additional 357 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Enovis by 42.8% during the third quarter. Farther Finance Advisors LLC now owns 1,224 shares of the company’s stock valued at $37,000 after buying an additional 367 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Enovis by 6.1% during the second quarter. Teacher Retirement System of Texas now owns 8,664 shares of the company’s stock valued at $272,000 after buying an additional 495 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Enovis by 0.3% during the second quarter. Wedge Capital Management L L P NC now owns 162,977 shares of the company’s stock worth $5,111,000 after buying an additional 498 shares during the period. Finally, Amalgamated Bank grew its holdings in Enovis by 3.6% in the 3rd quarter. Amalgamated Bank now owns 16,793 shares of the company’s stock worth $509,000 after buying an additional 585 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.