Enovis (NYSE:ENOV) Updates FY 2024 Earnings Guidance

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

A number of research firms have recently issued reports on ENOV. JPMorgan Chase & Co. reduced their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. JMP Securities initiated coverage on Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. Evercore ISI lowered 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. Finally, Needham & Company LLC cut their price target on Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enovis Price Performance

Shares of NYSE:ENOV opened at $43.32 on Wednesday. The business has a fifty day simple moving average of $42.16 and a 200-day simple moving average of $45.62. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. Enovis has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a market cap of $2.42 billion, a P/E ratio of -26.10 and a beta of 1.91.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $525.99 million. During the same period in the prior year, the firm posted $0.61 EPS. The company’s revenue was up 22.6% on a year-over-year basis. Equities research analysts forecast that Enovis will post 2.7 EPS for the current year.

About Enovis

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.