# Enovis Corporation (ENOV)

> Source: Nexqual · https://nexqual.com/ENOV · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Enovis Corporation (ENOV), nexqual.com/ENOV" · informational, not investment advice.

**Price:** USD 22.81 (+4.11% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 21.91 · day 21.88–22.84 · 52w 16.7–32.41 · market cap $1.32B · NYQ

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $2.30B, net income -$1.10B (-48.0% margin), free cash flow $63.7M (SEC filings).
- 1 of 80 tracked superinvestors hold ENOV (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 1.92 on a 1–5 scale) (13 analysts), mean target USD 36.08 (range 24–47).
- Total return with dividends: 1Y -28.6% vs S&P 500 +14.8%; 5Y -74.3% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.77, revenue estimate $557M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: ENOV paid no cash dividend in the last five years.
- Short interest: 24.18% of float (as of 2026-10-15), 7.1 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.56B | $1.71B | $2.11B | $2.25B | $2.30B |
| Gross profit | $778M | $869M | $991M | $1.18B | $1.35B | — |
| Operating income | -$62.8M | -$71.2M | -$65.7M | -$776M | -$1.12B | -$1.04B |
| Net income | $71.7M | -$13.3M | -$33.3M | -$825M | -$1.18B | -$1.10B |
| EPS (diluted) | $1.40 | -$0.25 | -$0.61 | -$14.93 | -$20.75 | — |
| Free cash flow | $252M | -$161M | $12.8M | -$67.2M | $19.9M | $63.7M |
| Gross margin | 54.5% | 55.6% | 58.0% | 56.0% | 59.8% | — |
| Operating margin | -4.4% | -4.6% | -3.8% | -36.8% | -50.0% | -45.1% |
| Net margin | 5.0% | -0.9% | -1.9% | -39.2% | -52.7% | -48.0% |
| Revenue growth | +27.3% | +9.6% | +9.2% | +23.5% | +6.7% | — |
| Cash + short-term investments | $680M | $24.3M | $36.2M | $48.2M | $36.4M | — |
| Total debt | $2.09B | $259M | $466M | $1.33B | $1.30B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/S 0.6x · EV/EBITDA 8.4x · EV/Sales 1.1x · P/FCF 20.7x · P/B 0.9x · FCF yield 4.84% · Earnings yield -83.75% · Net debt $1.27B · EV $2.59B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ENOV. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mason Hawkins | Southeastern Asset Management | 0.05% | $916K | Unchanged |

## Analysts
Consensus Buy (mean 1.92 on a 1–5 scale), 13 analysts; mean target USD 36.08 (low 24, high 47).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Needham | Target lowered | Buy | $52 → $34 |
| 2026-09-02 | Wells Fargo | Target lowered | Overweight | $39 → $33 |
| 2026-09-02 | Citizens | Target lowered | Market Outperform | $55 → $47 |
| 2026-09-02 | Freedom Capital Markets | Target lowered | Buy | $41 → $36 |
| 2026-09-01 | BTIG | Target lowered | Buy | $40 → $36 |
| 2026-08-17 | Canaccord Genuity | Target lowered | Buy | $50 → $45 |
| 2026-08-07 | Wells Fargo | Target lowered | Overweight | $40 → $39 |
| 2026-08-06 | BTIG | Target raised | Buy | $39 → $40 |
| 2026-07-09 | BMO Capital | Initiated | Outperform | $29 |
| 2026-07-06 | Evercore ISI Group | Target lowered | Outperform | $36 → $32 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -28.6% | -74.3% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -28.8% | -23.8% |
| Volatility (annualized) | 63.9% | 40.3% |
| Max drawdown | -44.7% (Nov 2025→Oct 2026) | -80.6% (Nov 2021→Oct 2026) |

## Dividends
ENOV paid no cash dividend in the last five years.

## Short interest
11,701,087 shares sold short, 24.18% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 9,483,247 shares (+23.4%). Days to cover: 7.1 (short shares ÷ average daily volume).

## Peers (Medical Devices)
INSP (Inspire Medical Systems, Inc.) USD 71.18 +0.30% · ESTA (Establishment Labs Holdings Inc) USD 68.41 -0.81% · BFLY (Butterfly Network, Inc.) USD 7.51 -3.84% · UFPT (UFP Technologies, Inc.) USD 293.3 +2.55% · TMDX (TransMedics Group, Inc.) USD 67.12 +0.33% · ALMR (Alamar Biosciences, Inc.) USD 34.04 -0.76%

## More
Full page: https://nexqual.com/ENOV · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.77 | $0.84 | -8.7% | $557.1M | 13 |
| Next quarter (ends 2026-12-31) | $1.07 | $1.07 | +0.1% | $609.5M | 12 |
| Current fiscal year (ends 2026-12-31) | $3.63 | $3.64 | -0.4% | $2.34B | 13 |
| Next fiscal year (ends 2027-12-31) | $3.54 | $4.08 | -13.2% | $2.45B | 13 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±15.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 79.8% | ±15.6% |
| 2026-12-18 | 50 | 72.0% | ±21.0% |
| 2027-01-15 | 78 | 67.1% | ±24.4% |
| 2027-04-16 | 169 | 72.5% | ±38.6% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.90 | $0.85 | Beat +5.9% | — |
| — | Quarter ended Mar 31, 2026 | $0.89 | $0.81 | Beat +9.9% | — |
| — | Quarter ended Dec 31, 2025 | $0.95 | $0.84 | Beat +13.1% | — |
| — | Quarter ended Sep 30, 2025 | $0.75 | $0.65 | Beat +15.4% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).