What is Roth Capital's Forecast for Enovis FY2024 Earnings?

Enovis Co. (NYSE:ENOV - Free Report) - Investment analysts at Roth Capital boosted their FY2024 EPS estimates for shares of Enovis in a research report issued to clients and investors on Wednesday, November 6th. Roth Capital analyst J. Wittes now anticipates that the company will post earnings of $2.80 per share for the year, up from their prior 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.

Several other equities analysts have also commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Enovis in a research report on Thursday. JMP Securities started coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an "outperform" rating and a $62.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Enovis from $53.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI reduced their target price on Enovis from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enovis Stock Down 3.0 %

NYSE ENOV traded down $1.44 during trading on Friday, hitting $46.42. The company's stock had a trading volume of 703,426 shares, compared to its average volume of 584,318. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The company has a market cap of $2.59 billion, a PE ratio of -28.83 and a beta of 1.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The business's 50 day simple moving average is $42.23 and its 200-day simple moving average is $45.64.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm had revenue of $505.22 million during the quarter, compared to analyst estimates of $504.44 million. During the same quarter in the prior year, the business posted $0.56 EPS. The business's revenue for the quarter was up 21.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Enovis in the second quarter worth about $44,000. DekaBank Deutsche Girozentrale acquired a new position in Enovis in the 3rd quarter worth about $55,000. Innealta Capital LLC purchased a new position in Enovis during the second quarter worth approximately $65,000. Benjamin F. Edwards & Company Inc. grew its holdings in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after purchasing an additional 371 shares during the period. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Enovis in the first quarter valued at approximately $226,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.