Equities Analysts Issue Forecasts for Enovis FY2024 Earnings

Enovis Co. (NYSE:ENOV) – Research analysts at William Blair raised their FY2024 earnings per share estimates for Enovis in a report released on Wednesday, November 6th. William Blair analyst B. Vazquez now anticipates that the company will post earnings of $2.78 per share for the year, up from their prior forecast of $2.69. The consensus estimate for Enovis’ current full-year earnings is $2.78 per share. William Blair also issued estimates for Enovis’ Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.74 EPS, FY2025 earnings at $3.17 EPS, Q1 2026 earnings at $0.80 EPS, Q2 2026 earnings at $0.87 EPS, Q3 2026 earnings at $0.85 EPS and FY2026 earnings at $3.56 EPS.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The firm had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. During the same period in the previous year, the firm earned $0.56 EPS. Enovis’s revenue was up 21.0% on a year-over-year basis.

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

Enovis Price Performance

Enovis stock opened at $46.42 on Friday. Enovis has a 1 year low of $38.27 and a 1 year high of $65.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.27. The company’s 50 day simple moving average is $42.23 and its 200-day simple moving average is $45.51. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -21.20 and a beta of 1.91.

Hedge Funds Weigh In On Enovis

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diamond Hill Capital Management Inc. raised its holdings in Enovis by 7.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock valued at $129,352,000 after acquiring an additional 218,660 shares in the last quarter. Royce & Associates LP lifted its position in shares of Enovis by 16.8% during the 3rd quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after purchasing an additional 346,317 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Enovis by 78.6% during the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after purchasing an additional 665,208 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Enovis in the third quarter valued at $51,341,000. Finally, Magnetar Financial LLC raised its stake in Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after buying an additional 442,051 shares in the last quarter. Hedge funds and other 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.