Enovis (NYSE:ENOV) Announces Earnings Results

Enovis (NYSE:ENOV) released its earnings results on Thursday. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50, Briefing.com reports. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The firm had revenue of $516.00 million during the quarter, compared to analyst estimates of $505.62 million. During the same period last year, the business earned $0.44 earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. Enovis updated its FY24 guidance to $2.52-$2.67 EPS.

Enovis Trading Down 1.6 %

Shares of ENOV stock traded down $0.86 on Friday, reaching $51.27. The stock had a trading volume of 1,147,518 shares, compared to its average volume of 520,993. 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 has a 1 year low of $43.04 and a 1 year high of $66.14. The company has a 50 day simple moving average of $59.15 and a 200 day simple moving average of $55.70.

Wall Street Analysts Forecast Growth

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

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.