Enovis (NYSE:ENOV) Updates FY24 Earnings Guidance

Enovis (NYSE:ENOV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.52-$2.67 for the period, compared to the consensus earnings per share estimate of $2.60. The company issued revenue guidance of $2.06-$2.16 billion, compared to the consensus revenue estimate of $2.12 billion.

Enovis Price Performance

Shares of NYSE:ENOV traded down $0.86 during trading on Friday, reaching $51.27. The stock had a trading volume of 1,147,518 shares, compared to its average volume of 520,993. Enovis has a 52 week low of $43.04 and a 52 week high of $66.14. The business’s 50-day moving average price is $59.15 and its 200 day moving average price is $55.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 2.10.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $505.62 million. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. On average, equities analysts anticipate that Enovis will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

ENOV has been the subject of several recent research reports. Stephens initiated coverage on shares of Enovis in a research report on Tuesday, February 13th. They set an overweight rating and a $72.00 target price for the company. Needham & Company LLC reissued a buy rating and issued a $82.00 target price on shares of Enovis in a research note on Friday. Canaccord Genuity Group boosted their target price on Enovis from $73.00 to $75.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Wells Fargo & Company increased their price target on shares of Enovis from $73.00 to $79.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Finally, UBS Group started coverage on shares of Enovis in a research note on Monday, January 22nd. They set a buy rating and a $75.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Enovis currently has a consensus rating of Buy and a consensus price target of $75.43.

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.