Enovis (NYSE:ENOV) Updates FY 2024 Earnings Guidance

Enovis (NYSE:ENOVGet Free Report) 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 Performance

ENOV stock traded down $1.14 during midday trading on Friday, reaching $46.72. 204,953 shares of the company were exchanged, compared to its average volume of 582,017. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The business has a 50-day moving average price of $42.23 and a two-hundred day moving average price of $45.64. Enovis has a one year low of $38.27 and a one year high of $65.03. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -28.83 and a beta of 1.91.

Enovis (NYSE:ENOVGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities research analysts forecast that Enovis will post 2.7 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Enovis in a report on Thursday. JMP Securities began coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Evercore ISI cut their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Check Out Our Latest Stock Report on Enovis

Enovis Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Enovis (NYSE:ENOV)

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