Roth Capital Comments on Enovis Co.’s Q2 2024 Earnings (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Equities research analysts at Roth Capital lowered their Q2 2024 EPS estimates for shares of Enovis in a report released on Friday, May 3rd. Roth Capital analyst J. Wittes now expects that the company will post earnings per share of $0.57 for the quarter, down from their prior 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.

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

Enovis Stock Down 1.6 %

Shares of Enovis stock opened at $51.27 on Monday. The company has a market capitalization of $2.81 billion, a P/E ratio of -34.18 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 1.16. The business has a 50-day moving average of $59.15 and a two-hundred day moving average of $55.79. Enovis has a 1 year low of $43.04 and a 1 year high of $66.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew 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 valued at $3,476,000 after buying an additional 21,479 shares in the last quarter. Tributary Capital Management LLC lifted its stake in Enovis by 14.9% in the fourth quarter. Tributary Capital Management LLC now owns 292,626 shares of the company’s stock valued at $16,393,000 after acquiring an additional 37,858 shares during the last quarter. Cross Staff Investments Inc bought a new position in shares of Enovis in the 4th quarter valued at about $205,000. Lawson Kroeker Investment Management Inc. NE acquired a new position in shares of Enovis during the 4th quarter worth about $7,013,000. Finally, GAMMA Investing LLC bought a new stake in shares of Enovis in the 4th quarter valued at about $53,000. 98.45% of the stock is currently owned by 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.