Enovis (NYSE:ENOV) Issues FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Enovis in a research note on Thursday. JPMorgan Chase & Co. cut their price target on shares of 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 assumed coverage on Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, Evercore ISI cut their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enovis Price Performance

Shares of ENOV stock traded down $1.21 during trading hours on Friday, hitting $46.65. 231,482 shares of the company’s stock were exchanged, compared to its average volume of 582,139. The stock’s 50-day moving average is $42.23 and its 200-day moving average is $45.64. 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 has a 52 week low of $38.27 and a 52 week high of $65.03. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -28.83 and a beta of 1.91.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share 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 firm had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. During the same quarter last year, the company posted $0.56 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, research analysts forecast that Enovis will post 2.7 EPS 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.