Enovis (NYSE:ENOV) Releases FY 2024 Earnings Guidance

Enovis (NYSE:ENOV) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.750-2.800 for the period, compared to the consensus estimate of 2.710. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENOV. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Enovis in a report on Thursday. JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JMP Securities initiated coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, Evercore ISI dropped their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Trading Down 2.5 %

Shares of Enovis stock traded down $1.21 on Friday, reaching $46.65. 231,482 shares of the company were exchanged, compared to its average volume of 582,139. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -28.83 and a beta of 1.91. The stock has a fifty day moving average price of $42.23 and a 200-day moving average price of $45.64.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The business had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. On average, analysts expect that Enovis will post 2.7 EPS for the current year.

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.