SNN - Enovis initiated at Argus with a hold citing EPS growth competition
Argus Research has started Enovis Corp. (NYSE:ENOV) with a hold rating as it has concerns about EPS growth and "steep competition" from medical device peers. The firm does not have a price target. Analyst John Eade said that Enovis' record on EPS growth is not as strong as rivals, adding that the company faces stiff competition from Stryker (SYK), Zimmer Biomet (ZBH), Smith & Nephew (SNN), and DePuy Synthes, which is part of Johnson & Johnson (JNJ). "Enovis (ENOV) is a global company, and its results are typically linked to global economic trends," Eade wrote. "From a technical standpoint, the shares are in a bearish pattern of lower highs and lower lows that dates to November 2021." Enovis (ENOV) was recently downgraded to strong sell by Seeking Alpha's Quant Rating on poor growth, momentum, and EPS revision.
For further details see:
Enovis initiated at Argus with a hold citing EPS growth, competition