Enovis (NYSE:ENOV) Announces Earnings Results

Enovis (NYSE:ENOV) posted its 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. The company had revenue of $548.91 million during the quarter, compared to analyst estimates of $538.61 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. Enovis updated its FY 2025 guidance to 3.100-3.250 EPS.

Enovis Stock Performance

Shares of NYSE ENOV traded down $0.41 during midday trading on Friday, reaching $28.02. 1,092,886 shares of the company traded hands, compared to its average volume of 1,104,868. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -1.97 and a beta of 1.67. The stock has a 50-day moving average price of $31.33 and a 200 day moving average price of $31.48. 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.

Insider Activity at Enovis

In related news, SVP Bradley J. Tandy purchased 3,200 shares of Enovis stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $31.41 per share, with a total value of $100,512.00. Following the purchase, the senior vice president owned 43,515 shares in the company, valued at approximately $1,366,806.15. The trade was a 7.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Phillip Benjamin (Ben) Berry acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $29.71 per share, with a total value of $74,275.00. Following the completion of the acquisition, the chief financial officer directly owned 116,729 shares of the company’s stock, valued at approximately $3,468,018.59. This represents a 2.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 12,157 shares of company stock worth $374,760 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Enovis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its holdings in shares of Enovis by 37.3% in the second quarter. Corient Private Wealth LLC now owns 10,474 shares of the company’s stock valued at $328,000 after buying an additional 2,847 shares during the period. Benjamin Edwards Inc. raised its position in Enovis by 10.8% in the second quarter. Benjamin Edwards Inc. now owns 15,207 shares of the company’s stock worth $477,000 after acquiring an additional 1,487 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Enovis in the 2nd quarter valued at about $983,000. The Manufacturers Life Insurance Company lifted its holdings in Enovis by 165.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,963 shares of the company’s stock valued at $877,000 after acquiring an additional 17,421 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Enovis during the 2nd quarter valued at about $341,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.