Roth Capital Has Bullish Estimate for Enovis FY2024 Earnings

Enovis Co. (NYSE:ENOV) – Research analysts at Roth Capital increased their FY2024 earnings estimates for Enovis in a research note issued on Wednesday, November 6th. Roth Capital analyst J. Wittes now forecasts that the company will earn $2.80 per share for the year, up from their previous forecast 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.

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

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

Enovis Stock Down 3.0 %

Shares of NYSE:ENOV opened at $46.42 on Friday. The company has a market capitalization of $2.59 billion, a P/E ratio of -27.96 and a beta of 1.91. The stock’s fifty day simple moving average is $42.23 and its 200-day simple moving average is $45.58. Enovis has a 52-week low of $38.27 and a 52-week high of $65.03. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40.

Institutional Trading of Enovis

Several institutional investors have recently made changes to their positions in ENOV. Scout Investments Inc. purchased a new stake in shares of Enovis during the 1st quarter worth about $6,116,000. Price T Rowe Associates Inc. MD lifted its position in Enovis by 88.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock valued at $23,802,000 after buying an additional 179,276 shares in the last quarter. Janus Henderson Group PLC grew its stake in Enovis by 100.6% during the first quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after buying an additional 189,584 shares during the period. First Eagle Investment Management LLC increased its position in shares of Enovis by 13.3% in the second quarter. First Eagle Investment Management LLC now owns 284,596 shares of the company’s stock worth $12,864,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Enovis by 50.9% in the 2nd quarter. Sei Investments Co. now owns 223,358 shares of the company’s stock valued at $10,096,000 after acquiring an additional 75,317 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.