Enovis (NYSE:ENOV) Releases Quarterly Earnings Results

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

Enovis Trading Down 3.0 %

NYSE:ENOV traded down $1.44 on Friday, hitting $46.42. 704,357 shares of the stock were exchanged, compared to its average volume of 584,318. The stock has a fifty day moving average of $42.23 and a 200-day moving average of $45.58. The stock has a market cap of $2.59 billion, a PE ratio of -27.96 and a beta of 1.91. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Enovis has a fifty-two week low of $38.27 and a fifty-two week high of $65.03.

Wall Street Analyst Weigh In

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

About Enovis

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.