Enovis (NYSE:ENOV) Issues Earnings Results

Enovis (NYSE:ENOV) released its quarterly earnings data on Wednesday. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11, Briefing.com reports. The firm had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share. Enovis updated its FY 2024 guidance to 2.750-2.800 EPS.

Enovis Price Performance

Shares of NYSE ENOV opened at $46.42 on Friday. The stock’s 50-day simple moving average is $42.23 and its two-hundred day simple moving average is $45.58. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.59 billion, a P/E ratio of -27.96 and a beta of 1.91. Enovis has a twelve month low of $38.27 and a twelve month high of $65.03.

Wall Street Analyst Weigh In

Several analysts have weighed in on ENOV shares. JMP Securities initiated coverage on shares of Enovis in a research note on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. Evercore ISI cut their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Enovis in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.