Enovis (NYSE:ENOV) Updates 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ENOV shares. Canaccord Genuity Group lifted 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. Needham & Company LLC reaffirmed a buy rating and set a $82.00 price objective on shares of Enovis in a research report on Friday. Stephens began coverage on Enovis in a report on Tuesday, February 13th. They issued an overweight rating and a $72.00 target price on the stock. Wells Fargo & Company lifted their price target on Enovis from $73.00 to $79.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Finally, UBS Group assumed coverage on Enovis in a report on Monday, January 22nd. They issued a buy rating and a $75.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $75.43.

Enovis Stock Performance

Shares of ENOV traded down $0.86 during midday trading on Friday, reaching $51.27. 1,147,518 shares of the stock were exchanged, 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. Enovis has a twelve month low of $43.04 and a twelve month high of $66.14. The business’s 50-day moving average price is $59.15 and its 200 day moving average price is $55.74.

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