Enovis (NYSE:ENOV) Issues FY 2024 Earnings Guidance

Enovis (NYSE:ENOV) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.750-2.800 for the period, compared to the consensus earnings per share 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

Several analysts have recently weighed in on ENOV shares. JPMorgan Chase & Co. decreased their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI lowered their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Enovis in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Stock Down 2.4 %

Shares of ENOV traded down $1.15 during midday trading on Friday, hitting $46.71. 186,557 shares of the company’s stock traded hands, compared to its average volume of 581,932. Enovis has a 1 year low of $38.27 and a 1 year high of $65.03. The firm’s fifty day moving average is $42.23 and its 200-day moving average is $45.64. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -28.83 and a beta of 1.91.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Enovis will post 2.7 earnings per share for the current year.

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.