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

Enovis (NYSE:ENOV) released its quarterly earnings data on Thursday. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 6.78% and a negative net margin of 37.80%.The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. Enovis updated its FY 2025 guidance to 3.100-3.250 EPS.

Enovis Stock Down 1.4%

NYSE:ENOV traded down $0.41 during trading hours on Friday, hitting $28.02. The stock had a trading volume of 1,092,886 shares, compared to its average volume of 1,104,868. 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 two-hundred day simple moving average of $31.48. Enovis has a 1-year low of $25.47 and a 1-year high of $49.75. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

Insider Activity

In other news, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $29.71 per share, with a total value of $74,275.00. Following the acquisition, the chief financial officer owned 116,729 shares in the company, valued at approximately $3,468,018.59. This trade represents a 2.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bradley J. Tandy acquired 3,200 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $31.41 per share, for a total transaction of $100,512.00. Following the acquisition, the senior vice president directly owned 43,515 shares in the company, valued at $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 12,157 shares of company stock worth $374,760. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enovis

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

Wall Street Analyst Weigh In

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