Enovis (NYSE:ENOV) Issues Earnings Results

Enovis (NYSE:ENOV) issued its earnings results on Thursday. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50, Briefing.com reports. The company had revenue of $516.00 million for the quarter, compared to analyst estimates of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Enovis updated its FY24 guidance to $2.52-$2.67 EPS.

Enovis Stock Performance

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. Enovis has a twelve month low of $43.04 and a twelve month high of $66.14. 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 50-day moving average of $59.15 and a 200-day moving average of $55.70.

Wall Street Analysts Forecast Growth

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