Roth Capital Equities Analysts Reduce Earnings Estimates for Enovis Co. (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Research analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for shares of Enovis in a note issued to investors on Friday, May 3rd. Roth Capital analyst J. Wittes now expects 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.

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

ENOV has been the subject of a number of other research reports. Canaccord Genuity Group increased their target price on shares of Enovis from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Stephens initiated coverage on shares of Enovis in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $72.00 target price for the company. Wells Fargo & Company increased their price target 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 reiterated a “buy” rating and issued a $82.00 price objective on shares of Enovis in a research report on Friday, May 3rd. Finally, UBS Group started coverage on Enovis in a report on Monday, January 22nd. They set a “buy” rating and a $75.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Enovis presently has an average rating of “Buy” and an average price target of $75.43.

Enovis Stock Performance

Enovis stock opened at $52.24 on Monday. The firm has a market capitalization of $2.87 billion, a P/E ratio of -34.83 and a beta of 1.99. The stock has a fifty day moving average price of $58.76 and a two-hundred day moving average price of $55.89. Enovis has a 52-week low of $43.04 and a 52-week high of $66.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03.

Hedge Funds Weigh In On Enovis

Hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Enovis in the 1st quarter valued at about $34,000. Fifth Third Bancorp lifted its holdings in Enovis by 144.6% in the third 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. boosted its stake in Enovis by 902.7% in the third quarter. First Horizon Advisors Inc. now owns 732 shares of the company’s stock valued at $39,000 after acquiring an additional 659 shares during the last quarter. Principal Securities Inc. acquired a new stake in Enovis during the 4th quarter worth $41,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Enovis by 97.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 846 shares of the company’s stock valued at $47,000 after purchasing an additional 417 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.