Enovis (NYSE:ENOV) Releases Earnings Results, Beats Estimates By $0.08 EPS

Enovis (NYSE:ENOV) posted its quarterly earnings results on Thursday. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08, Zacks reports. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business had revenue of $548.91 million during the quarter, compared to analyst estimates of $538.61 million. During the same period in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Enovis updated its FY 2025 guidance to 3.100-3.250 EPS.

Enovis Price Performance

Shares of Enovis stock traded down $0.41 on Friday, hitting $28.02. The company had a trading volume of 1,092,886 shares, compared to its average volume of 1,104,868. Enovis has a 52 week low of $25.47 and a 52 week high of $49.75. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The company has a market cap of $1.60 billion, a PE ratio of -1.97 and a beta of 1.67. The business has a 50-day simple moving average of $31.33 and a 200-day simple moving average of $31.48.

Insiders Place Their Bets

In other news, CEO Damien Mcdonald acquired 6,457 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of $30.97 per share, with a total value of $199,973.29. Following the purchase, the chief executive officer owned 102,753 shares of the company’s stock, valued at approximately $3,182,260.41. This represents a 6.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bradley J. Tandy acquired 3,200 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $31.41 per share, with a total value of $100,512.00. Following the acquisition, the senior vice president owned 43,515 shares of the company’s stock, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 12,157 shares of company stock worth $374,760 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in shares of Enovis by 165.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,963 shares of the company’s stock valued at $877,000 after purchasing an additional 17,421 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Enovis by 5.9% in the 2nd quarter. Squarepoint Ops LLC now owns 206,108 shares of the company’s stock worth $6,464,000 after purchasing an additional 11,471 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Enovis by 37.3% during the second quarter. Gamco Investors INC. ET AL now owns 13,758 shares of the company’s stock valued at $431,000 after purchasing an additional 3,740 shares during the last quarter. AQR Capital Management LLC lifted its stake in Enovis by 12.5% during the first quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock valued at $2,363,000 after purchasing an additional 7,072 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in Enovis during the second quarter worth approximately $304,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ENOV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovis in a report on Wednesday, October 8th. UBS Group cut their price target on Enovis from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Wells Fargo & Company upped their price objective on Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday. Canaccord Genuity Group dropped their target price on Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, Needham & Company LLC reduced their price target on shares of Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enovis has a consensus rating of “Moderate Buy” and an average target price of $51.17.

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.