Roth Capital Comments on Enovis’ FY2024 Earnings (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Research analysts at Roth Capital boosted their FY2024 earnings per share estimates for shares of Enovis in a research note issued on Wednesday, November 6th. Roth Capital analyst J. Wittes now forecasts that the company will post earnings of $2.80 per share for the year, up from their previous estimate of $2.70. The consensus estimate for Enovis’ current full-year earnings is $2.70 per share. Roth Capital also issued estimates for Enovis’ Q4 2024 earnings at $0.95 EPS.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. JMP Securities started coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Enovis in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Enovis has an average rating of “Moderate Buy” and an average price target of $67.00.

Enovis Stock Up 2.0 %

Shares of Enovis stock opened at $47.86 on Friday. The stock’s fifty day moving average is $42.23 and its 200-day moving average is $45.64. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. Enovis has a 12-month low of $38.27 and a 12-month high of $65.03. The firm has a market capitalization of $2.67 billion, a PE ratio of -28.83 and a beta of 1.91.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10. The business had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS.

Institutional Trading of Enovis

Hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Enovis by 0.3% in the 1st quarter. Swiss National Bank now owns 97,000 shares of the company’s stock worth $6,058,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after purchasing an additional 371 shares during the period. Pitcairn Co. boosted its stake in shares of Enovis by 6.8% in the first quarter. Pitcairn Co. now owns 6,036 shares of the company’s stock worth $377,000 after acquiring an additional 386 shares during the period. Aigen Investment Management LP raised its position in shares of Enovis by 5.1% during the third quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock valued at $381,000 after buying an additional 430 shares during the last quarter. Finally, Keeley Teton Advisors LLC grew its position in shares of Enovis by 6.8% during the first quarter. Keeley Teton Advisors LLC now owns 6,936 shares of the company’s stock valued at $433,000 after purchasing an additional 441 shares in the last quarter. Institutional investors 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.