FY2024 Earnings Forecast for Enovis Issued By William Blair

Enovis Co. (NYSE:ENOV - Free Report) - Stock analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of Enovis in a report issued on Wednesday, November 6th. William Blair analyst B. Vazquez now forecasts that the company will post earnings per share of $2.78 for the year, up from their prior forecast of $2.69. The consensus estimate for Enovis' current full-year earnings is $2.70 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.

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

Enovis Stock Down 3.0 %

Enovis stock traded down $1.44 during trading hours on Friday, hitting $46.42. The stock had a trading volume of 703,426 shares, compared to its average volume of 584,318. The stock's 50-day moving average price is $42.23 and its 200-day moving average price is $45.64. Enovis has a 12-month low of $38.27 and a 12-month 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. The stock has a market capitalization of $2.59 billion, a P/E ratio of -28.83 and a beta of 1.91.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 previous year, the firm earned $0.56 EPS. Enovis's quarterly revenue was up 21.0% compared to the same quarter last year.

Hedge Funds Weigh In On Enovis

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Enovis by 0.3% during the 1st quarter. Swiss National Bank now owns 97,000 shares of the company's stock worth $6,058,000 after acquiring an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company's stock valued at $76,000 after buying an additional 371 shares in the last quarter. Pitcairn Co. boosted its position in Enovis by 6.8% in the 1st quarter. Pitcairn Co. now owns 6,036 shares of the company's stock valued at $377,000 after buying an additional 386 shares during the period. Aigen Investment Management LP grew its stake in Enovis by 5.1% in the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company's stock worth $381,000 after acquiring an additional 430 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its position in shares of Enovis by 6.8% during the first quarter. Keeley Teton Advisors LLC now owns 6,936 shares of the company's stock worth $433,000 after acquiring an additional 441 shares during the period. Hedge funds and other 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.