Enovis (NYSE:ENOV) Releases FY24 Earnings Guidance

Enovis (NYSE:ENOV) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Analysts Set New Price Targets

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

Enovis Trading Down 1.6 %

Shares of Enovis stock traded down $0.86 on Friday, hitting $51.27. The company 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 stock has a 50 day moving average of $59.15 and a 200-day moving average of $55.74.

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