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

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

Enovis Trading Down 1.4%

Shares of ENOV stock traded down $0.41 during trading hours on Friday, reaching $28.02. 1,092,886 shares of the stock traded hands, compared to its average volume of 1,104,868. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.60 billion, a PE ratio of -1.97 and a beta of 1.67. Enovis has a 1-year low of $25.47 and a 1-year high of $49.75. The business has a fifty day moving average price of $31.33 and a 200 day moving average price of $31.48.

Insiders Place Their Bets

In other Enovis news, SVP Bradley J. Tandy purchased 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $31.41 per share, with a total value of $100,512.00. Following the completion of the transaction, the senior vice president owned 43,515 shares of the company’s stock, valued at approximately $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Damien Mcdonald acquired 6,457 shares of Enovis stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of $30.97 per share, with a total value of $199,973.29. Following the completion of the purchase, the chief executive officer owned 102,753 shares in the company, valued at approximately $3,182,260.41. This represents a 6.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 12,157 shares of company stock worth $374,760. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its position in Enovis by 41.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,113,300 shares of the company’s stock worth $34,913,000 after purchasing an additional 326,900 shares during the last quarter. P2 Capital Partners LLC grew its stake in shares of Enovis by 87.0% in the 2nd quarter. P2 Capital Partners LLC now owns 617,149 shares of the company’s stock valued at $19,354,000 after buying an additional 287,149 shares in the last quarter. AQR Capital Management LLC increased its holdings in Enovis by 682.6% in the second quarter. AQR Capital Management LLC now owns 498,317 shares of the company’s stock worth $15,627,000 after buying an additional 434,646 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Enovis by 68.9% in the second quarter. Quantinno Capital Management LP now owns 390,355 shares of the company’s stock worth $12,242,000 after buying an additional 159,278 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Enovis by 197.2% during the second quarter. Cubist Systematic Strategies LLC now owns 346,558 shares of the company’s stock valued at $10,868,000 after acquiring an additional 229,966 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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