Enovis (NYSE:ENOV) Issues FY24 Earnings Guidance

Enovis (NYSE:ENOV) updated its FY24 earnings guidance on Thursday. 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 Stock Down 1.6 %

NYSE ENOV 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 quick ratio of 1.16, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $59.15 and a two-hundred day moving average price of $55.74. Enovis has a 12-month low of $43.04 and a 12-month high of $66.14.

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

Analysts Set New Price Targets

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