Enovis (NYSE:ENOV) Shares Gap Up After Insider Buying Activity

Shares of Enovis Corporation (NYSE:ENOV) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $31.58, but opened at $32.78. Enovis shares last traded at $32.23, with a volume of 104,505 shares changing hands.

Specifically, CEO Damien Mcdonald purchased 6,457 shares of the stock in a transaction on Thursday, September 11th. The shares were bought at an average cost of $30.97 per share, with a total value of $199,973.29. Following the completion of the acquisition, the chief executive officer owned 102,753 shares in the company, valued at $3,182,260.41. This trade represents a 6.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

Several equities research analysts have commented on ENOV shares. Needham & Company LLC lowered their price target on shares of Enovis from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Evercore ISI dropped their price target on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company dropped their price target on shares of Enovis from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Canaccord Genuity Group dropped their price target on shares of Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, UBS Group lowered their target price on shares of Enovis from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enovis currently has a consensus rating of “Buy” and an average target price of $51.00.

Enovis Price Performance

The stock has a market capitalization of $1.82 billion, a PE ratio of -2.23 and a beta of 1.68. The stock’s 50 day moving average is $29.85 and its two-hundred day moving average is $32.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $564.50 million for the quarter, compared to analyst estimates of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. Enovis’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, equities analysts anticipate that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Institutional Trading of Enovis

A number of hedge funds have recently bought and sold shares of ENOV. Nuveen Asset Management LLC raised its holdings in Enovis by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 219,989 shares of the company’s stock valued at $9,653,000 after acquiring an additional 1,678 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Enovis during the 4th quarter worth approximately $330,000. Point72 Asset Management L.P. acquired a new stake in shares of Enovis during the 4th quarter worth approximately $2,789,000. Royal Bank of Canada increased its holdings in shares of Enovis by 25.0% during the 4th quarter. Royal Bank of Canada now owns 707,361 shares of the company’s stock worth $31,038,000 after buying an additional 141,517 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN increased its holdings in shares of Enovis by 60.6% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 36,583 shares of the company’s stock worth $1,605,000 after buying an additional 13,797 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Enovis

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.