10 Undervalued Medical Device Stocks to Buy Now

4. Enovis Corporation (NYSE:ENOV)

Forward P/E: 11.2

Number of Hedge Fund Holders: 31

Enovis Corporation (NYSE:ENOV) is one of the best undervalued medical device stocks to buy now. In a report released on July 8, Vijay Kumar from Evercore ISI maintained a Buy rating on Enovis Corporation (NYSE:ENOV) and set a price target of $46.00.

The company reported continued commercial momentum in fiscal Q1 2025 results, with net sales for the quarter reaching $559 million and reported an 8% growth on a reported basis and 9% rise on a comparable basis from the same quarter last year. Reconstructive sales for the quarter rose 11% year-over-year on a reported basis.

Enovis Corporation’s (NYSE:ENOV) fiscal Q1 2025 results show a rebound in growth in Recon, net sales for which grew 11% on a reported and comparable basis. The company also showed accelerating momentum in new product introductions and continued execution in P&R, reflecting a 5% growth on a reported basis and 7% on a comparable growth basis.

Enovis Corporation (NYSE:ENOV) is a medical technology growth company that develops clinically differentiated solutions to transform workflows and generate better patient outcomes. The company operates through the Prevention & Recovery and Reconstructive segments.