Q2 2024 EPS Estimates for Enovis Co. Lowered by Analyst (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Investment analysts at Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for Enovis in a note issued to investors on Friday, May 3rd. Roth Capital analyst J. Wittes now forecasts that the company will earn $0.57 per share for the quarter, down from their previous forecast of $0.65. The consensus estimate for Enovis’ current full-year earnings is $2.60 per share. Roth Capital also issued estimates for Enovis’ Q3 2024 earnings at $0.69 EPS and Q4 2024 earnings at $0.89 EPS.

Other equities research analysts have also issued research reports about the stock. Stephens assumed coverage on shares of Enovis in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 price objective for the company. Canaccord Genuity Group increased their price target on Enovis from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price objective on Enovis from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Enovis in a research report on Friday. Finally, UBS Group assumed coverage on shares of Enovis in a report on Monday, January 22nd. They issued a “buy” rating and a $75.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $75.43.

Enovis Stock Down 1.6 %

ENOV opened at $51.27 on Monday. Enovis has a fifty-two week low of $43.04 and a fifty-two week high of $66.14. The firm has a market capitalization of $2.81 billion, a P/E ratio of -34.18 and a beta of 1.99. The company’s 50-day moving average is $59.15 and its 200 day moving average is $55.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The business had revenue of $516.00 million during the quarter, compared to analyst estimates of $505.62 million. During the same period in the prior year, the firm posted $0.44 EPS. Enovis’s quarterly revenue was up 27.0% compared to the same quarter last year.

Institutional Investors Weigh In On Enovis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENOV. Public Employees Retirement System of Ohio increased its stake in shares of Enovis by 48.3% in the third quarter. Public Employees Retirement System of Ohio now owns 65,916 shares of the company’s stock worth $3,476,000 after purchasing an additional 21,479 shares in the last quarter. Tributary Capital Management LLC lifted its stake in shares of Enovis by 14.9% during the 4th quarter. Tributary Capital Management LLC now owns 292,626 shares of the company’s stock valued at $16,393,000 after buying an additional 37,858 shares in the last quarter. Cross Staff Investments Inc bought a new position in Enovis in the 4th quarter worth approximately $205,000. Lawson Kroeker Investment Management Inc. NE purchased a new position in Enovis in the 4th quarter valued at approximately $7,013,000. Finally, GAMMA Investing LLC bought a new stake in Enovis during the 4th quarter valued at $53,000. 98.45% of the stock is currently owned by institutional investors.

Enovis Company Profile

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.