Enovis (NYSE:ENOV) Issues FY24 Earnings Guidance

Enovis (NYSE:ENOV) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.52-$2.67 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

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

Enovis Stock Down 1.6 %

NYSE:ENOV traded down $0.86 during mid-day trading on Friday, hitting $51.27. 1,147,518 shares of the company’s stock were exchanged, compared to its average volume of 520,993. Enovis has a fifty-two week low of $43.04 and a fifty-two week high of $66.14. The company has a quick ratio of 1.16, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $59.15 and a 200-day simple moving average of $55.74.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $516.00 million for the quarter, compared to analyst estimates of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. Enovis’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, analysts expect that Enovis will post 2.6 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.