Roth Capital Research Analysts Lower Earnings Estimates for Enovis Co. (NYSE:ENOV)

Enovis Co. (NYSE:ENOV) – Equities research analysts at Roth Capital dropped their Q2 2024 earnings per share estimates for shares of Enovis in a research note issued on Friday, May 3rd. Roth Capital analyst J. Wittes now anticipates that the company will post earnings of $0.57 per share 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.

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

Enovis Stock Performance

Shares of ENOV stock opened at $50.93 on Monday. The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. Enovis has a 52 week low of $43.04 and a 52 week high of $66.14. The firm has a 50 day moving average of $58.94 and a 200-day moving average of $55.84. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -33.95 and a beta of 1.99.

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

Institutional Investors Weigh In On Enovis

Several large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in Enovis by 907.7% during the fourth quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock worth $31,339,000 after purchasing an additional 503,913 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of Enovis by 26.6% in the fourth quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after buying an additional 334,154 shares during the period. UBS Group AG increased its holdings in shares of Enovis by 1,060.8% in the fourth quarter. UBS Group AG now owns 333,510 shares of the company’s stock worth $18,683,000 after buying an additional 304,779 shares during the period. Invesco Ltd. increased its holdings in shares of Enovis by 116.2% in the third quarter. Invesco Ltd. now owns 472,713 shares of the company’s stock worth $24,926,000 after buying an additional 254,097 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Enovis by 9.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,429,173 shares of the company’s stock worth $128,090,000 after buying an additional 219,659 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.