Enovis (NYSE:ENOV) Updates 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 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.

Enovis Stock Down 2.4 %

ENOV traded down $1.14 on Friday, reaching $46.72. 204,953 shares of the company traded hands, compared to its average volume of 582,017. The stock’s 50 day moving average price is $42.23 and its 200-day moving average price is $45.64. Enovis has a 52-week low of $38.27 and a 52-week high of $65.03. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -28.83 and a beta of 1.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08.

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

Analyst Ratings Changes

ENOV has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Enovis in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Finally, JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.