Enovis (NYSE:ENOV) Releases Earnings Results, Beats Expectations By $0.10 EPS

Enovis (NYSE:ENOV) posted its quarterly earnings data on Wednesday. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10, Briefing.com reports. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The business had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Enovis updated its FY 2024 guidance to 2.750-2.800 EPS.

Enovis Stock Performance

NYSE:ENOV traded up $0.96 during midday trading on Thursday, reaching $47.86. 1,502,365 shares of the company traded hands, compared to its average volume of 583,763. Enovis has a twelve month low of $38.27 and a twelve month high of $65.03. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $42.19 and a 200 day moving average price of $45.63.

Analysts Set New Price Targets

ENOV has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Enovis in a report on Thursday. JMP Securities started coverage on Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.