Enovis

ENOV · NYSE

$20.69+$0.82 (+4.13%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $19.87

ENOV analyst rating

BuyConsensus of 10 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy10
Hold0
Underperform0
Sell0

12-month price target · 14 analysts

Average $40.43 (+95.4% upside)

Low: $27.27
Now: $20.69
High: $54.60

Upgrades and downgrades

The latest rating actions, newest first

ENOV analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 12, 2026	Maintains	Buy	$52.00 → $34.00	45%
Wells Fargo	Sep 2, 2026	Maintains	Overweight	$39.00 → $33.00	54%
Citizens	Sep 2, 2026	Maintains	Market Outperform	$55.00 → $47.00	42%
Freedom Capital Markets	Sep 2, 2026	Maintains	Buy	$41.00 → $36.00	40%
BTIG	Sep 1, 2026	Maintains	Buy	$40.00 → $36.00	48%
Canaccord Genuity	Aug 17, 2026	Maintains	Buy	$50.00 → $45.00	43%
Wells Fargo	Aug 7, 2026	Maintains	Overweight	$40.00 → $39.00	54%
BTIG	Aug 6, 2026	Maintains	Buy	$39.00 → $40.00	48%
UBS	Jul 28, 2026	Initiates	Buy	$50.00 → $51.00	50%
BMO Capital	Jul 9, 2026	Initiates	Outperform	$29.00	45%

The case for and against

Updated Oct 17, 2026

Bull case

Enovis is supported by a favorable mix shift toward higher-growth, higher-margin Reconstructive products, which should lift gross and operating margins while allowing EBITDA and EPS to outpace revenue growth. Its 2Q26 results showed revenue of $582.8M, 3.2% Y/Y growth and 4.8% organic growth, with Recon up 8% Y/Y and P&R still contributing steady cash flow despite a 1% Y/Y decline. Improving free cash flow, a $31M 2Q gain, strong new-product momentum, and a valuation below 7x NTM EV/EBITDA all reinforce the view that execution and multiple expansion can drive shares higher.

Bear case

Enovis is facing a negative fundamental setup because the planned eCential Robotics acquisition is expected to close by end of 2026 and dilute adjusted EBITDA margin by about 150 bps in 2027, only partly offset by 50 bps of underlying improvement. The company’s own 2027E outlook has already been cut to $422M of adjusted EBITDA from $470M and $3.45 of adjusted EPS from $4.06, while bear-case assumptions call for less than 4% revenue growth and operating margin contraction below consensus. Additional pressure comes from slower orthopedic market growth, competitive threats from robotic systems and bone growth stimulation reclassification, tariff and inflation headwinds, and roughly 59M shares expected for FY26, which further weighs on per-share earnings.

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