Research Analysts Set Expectations for Enovis Co.’s Q2 2024 Earnings (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for Enovis in a research note issued on Friday, May 3rd. Roth Capital analyst J. Wittes now forecasts that the company will post earnings of $0.57 per share for the quarter, down from their prior estimate 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.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group boosted their target price on Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Stephens started coverage on shares of Enovis in a research report on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Enovis from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Enovis in a report on Friday, May 3rd. Finally, UBS Group assumed coverage on Enovis in a report on Monday, January 22nd. They issued a “buy” rating and a $75.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $75.43.

Enovis Stock Up 2.6 %

Enovis stock opened at $52.24 on Monday. Enovis has a 1-year low of $43.04 and a 1-year high of $66.14. The stock has a market cap of $2.87 billion, a PE ratio of -34.83 and a beta of 1.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. The stock’s fifty day moving average is $58.76 and its two-hundred day moving average is $55.89.

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

Institutional Trading of Enovis

A number of hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Enovis during the first quarter worth approximately $34,000. Fifth Third Bancorp increased its stake in Enovis by 144.6% in the 3rd quarter. Fifth Third Bancorp now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 347 shares during the period. First Horizon Advisors Inc. raised its position in Enovis by 902.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock worth $39,000 after buying an additional 659 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Enovis in the 4th quarter worth $41,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Enovis by 97.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock valued at $47,000 after acquiring an additional 417 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.