Enovis (NYSE:ENOV) Issues Quarterly Earnings Results

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

Enovis Price Performance

Shares of ENOV traded down $0.86 during trading hours on Friday, reaching $51.27. The stock had a trading volume of 1,147,518 shares, compared to its average volume of 520,993. The firm has a 50-day simple moving average of $59.15 and a 200 day simple moving average of $55.74. Enovis has a 12 month low of $43.04 and a 12 month high of $66.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16.

Analyst Ratings Changes

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