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Enovis
(NYSE:ENOV)
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Rating:48Neutral
Price Target:
$20.00
▼(-20.79% Downside)
Action:Reiterated
Date:09/09/26
The score is primarily weighed down by weak profitability (very large net losses and negative ROE) and bearish technicals (price below key moving averages with negative MACD). Partially offsetting this, cash flow is positive and improving, and the robotics acquisition is strategically positive but comes with a stated near-term margin headwind and added financing pressure.
Positive Factors
Diversified musculoskeletal care portfolio
A portfolio spanning reconstruction, trauma, prevention and rehabilitation gives Enovis multiple demand channels within musculoskeletal care. This breadth can support cross-selling, reduce reliance on one procedure category, and deepen relationships with hospitals, surgeons and other care providers over the medium term.
Negative Factors
Severe and persistent reported losses
Very large net losses and deeply negative margins show that Enovis has not yet demonstrated durable earnings power. Continued losses can limit reinvestment flexibility, weaken returns on the existing asset base, and make future operating performance highly dependent on a successful profitability recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified musculoskeletal care portfolio
A portfolio spanning reconstruction, trauma, prevention and rehabilitation gives Enovis multiple demand channels within musculoskeletal care. This breadth can support cross-selling, reduce reliance on one procedure category, and deepen relationships with hospitals, surgeons and other care providers over the medium term.
Read all positive factors
Enovis (ENOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.07B
Dividend YieldN/A
Average Volume (3M)1.28M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth4.89%
EPS Growth-30.14%
CountryUS
Employees7,802
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-19.40
Shares Outstanding57,669,495
10 Day Avg. Volume1,424,145
30 Day Avg. Volume1,277,580
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)1.02
Price to Sales (P/S)0.67
P/FCF Ratio75.96
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$39.10Price Target Upside54.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)3.64
Revenue Forecast (FY)$2.34B
Enovis Business Overview & Revenue Model
Company Description
Enovis Corporation is a global medical technology enterprise specializing in the design, production, and supply of medical devices. These specialized products are instrumental for a diverse range of healthcare professionals—including orthopedic sp...
How the Company Makes Money
Enovis makes money primarily by selling medical devices and related products used across the musculoskeletal care continuum, with revenue generated through two main operating segments:
1) Reconstructive (Implants and surgical solutions)
- Product...
Enovis Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call showed solid operational execution and clear commercial momentum—particularly in Recon and extremities—with meaningful innovation catalysts (Arvis, Nebula), margin expansion at the gross level, EPS growth, and improved free cash flow. However, offsetting risks include tariff costs (~$4M), international volatility including Middle East exposure (~$1–2M/month), a Q1 selling-days headwind (~240 bps), a conservative stance on guidance, and an SEC-driven change to adjusted EBITDA presentation that reduces non-GAAP comparability. On balance, positive fundamental performance and a constructive outlook outweigh the near-term headwinds and reporting adjustments.Positive Updates
Top-line Growth and Days-Adjusted Performance
Reported Q1 sales of $589 million, up 5% year-over-year. Company organic revenue +3% and days-adjusted organic growth +6% (selling days headwind ~240 bps). Reported results included a +420 bps FX tailwind and a -210 bps headwind related to the Dr. Comfort divestiture.
Negative Updates
Tariff Impact
The company incurred roughly $4 million of tariffs in Q1 (primarily affecting P&R). Management is absorbing and mitigating part of this cost; however, they assume no tariff refunds in the current outlook and expect to continue paying tariffs at current rates.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Growth and Days-Adjusted Performance
Reported Q1 sales of $589 million, up 5% year-over-year. Company organic revenue +3% and days-adjusted organic growth +6% (selling days headwind ~240 bps). Reported results included a +420 bps FX tailwind and a -210 bps headwind related to the Dr. Comfort divestiture.
Read all positive updates
Company Guidance
Management reaffirmed 2026 guidance, saying full‑year revenue is expected to be split evenly between H1 and H2 and that they can absorb current headwinds—including roughly $1–2 million per month of Middle East revenue exposure and supply‑chain inflation—without changing the guide; they reiterated a target free cash flow conversion of greater than 25% for 2026 (Q1 free cash flow improved $16M YoY). For context, Q1 results were $589M sales (reported +5%), with reported tailwinds/headwinds of +420 bps FX, –240 bps selling days and –210 bps related to the Dr. Comfort divestiture; company days‑adjusted organic growth was 6% (Recon 8%, P&R 3%), reported organic growth 3% (Recon 6%, P&R 1%), adjusted gross margin 62% (+40 bps underlying), adjusted EBITDA margin 17.6%, adjusted EPS $0.89 (+10% underlying), about $4M of tariffs paid in Q1 (assumed non‑refundable), and CapEx expected roughly in line with last year as a percent of sales; they also updated the adjusted EBITDA presentation to no longer adjust inventory step‑up per SEC dialogue.Enovis Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
44
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.30B | 2.25B | 2.11B | 1.71B | 1.56B | 1.43B |
| Gross Profit | 1.32B | 1.35B | 1.18B | 990.78M | 869.38M | 777.67M |
| EBITDA | -716.92M | -830.22M | -481.03M | 169.73M | 241.69M | 170.25M |
| Net Income | -1.10B | -1.18B | -825.49M | -33.26M | -13.29M | 71.66M |
Balance Sheet | ||||||
| Total Assets | 3.77B | 3.83B | 4.72B | 4.51B | 4.27B | 8.52B |
| Cash, Cash Equivalents and Short-Term Investments | 12.56M | 36.39M | 48.17M | 36.19M | 24.30M | 680.25M |
| Total Debt | 1.37B | 1.38B | 1.40B | 536.42M | 334.82M | 2.16B |
| Total Liabilities | 2.29B | 2.34B | 2.15B | 1.09B | 823.45M | 3.85B |
| Stockholders Equity | 1.48B | 1.49B | 2.56B | 3.42B | 3.45B | 4.62B |
Cash Flow | ||||||
| Free Cash Flow | 63.66M | 19.92M | -67.21M | 12.77M | -161.31M | 251.86M |
| Operating Cash Flow | 270.10M | 217.29M | 113.50M | 134.99M | -55.86M | 356.10M |
| Investing Cash Flow | -167.16M | -179.37M | -955.47M | -242.47M | -176.39M | -320.48M |
| Financing Cash Flow | -134.36M | -52.40M | 846.82M | 127.80M | -465.13M | 584.91M |
Enovis Technical Analysis
Negative
25.25
Price Trends
25.43
Negative
24.52
Negative
24.69
Negative
Market Momentum
-1.71
Positive
33.65
Neutral
8.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENOV, the sentiment is Negative. The current price of 25.25 is above the 20-day moving average (MA) of 23.96, below the 50-day MA of 25.43, and above the 200-day MA of 24.69, indicating a bearish trend. The MACD of -1.71 indicates Positive momentum. The RSI at 33.65 is Neutral, neither overbought nor oversold. The STOCH value of 8.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ENOV.
Enovis Risk Analysis
Enovis disclosed 45 risk factors in its most recent earnings report. Enovis reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enovis Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $2.36B | 33.06 | 7.65% | 0.59% | 13.98% | 105.73% | |
70 Outperform | $1.91B | 20.80 | 22.00% | 0.11% | 4.27% | 8.45% | |
69 Neutral | $3.39B | 31.29 | 14.35% | 0.50% | 12.85% | 85.73% | |
58 Neutral | $5.30B | -154.08 | -8.65% | ― | 33.75% | 51.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $1.07B | -1.03 | -68.17% | ― | 4.89% | -30.14% |
* Healthcare Sector Average
ENOV
Enovis
19.98
-11.21
-35.94%
EPAC
Enerpac Tool Group
37.03
-4.06
-9.88%
SXI
Standex International
271.63
73.75
37.27%
HLIO
Helios Technologies
71.42
17.91
33.46%
XMTR
Xometry
92.45
42.61
85.49%
Enovis Corporate Events
Business Operations and StrategyM&A Transactions
Enovis to Acquire eCential Robotics, Expanding Surgical Platform
Positive
Sep 1, 2026
On August 31, 2026, Enovis entered into a binding offer to acquire French-based eCential Robotics SAS, a leading developer of enabling technologies and surgical robotics, in a deal valuing the target at an enterprise value of about €155 mill...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.