Enovis (NYSE:ENOV) Announces Quarterly Earnings Results, Hits Estimates

Enovis (NYSE:ENOV - Get Free Report) released its quarterly 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 business had revenue of $516.00 million during the quarter, compared to the consensus estimate of $505.62 million. Enovis had a positive return on equity of 3.98% and a negative net margin of 4.51%. The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Enovis updated its FY24 guidance to $2.52-$2.67 EPS.

Enovis Price Performance

NYSE:ENOV traded down $0.86 during mid-day trading on Friday, reaching $51.27. The stock had a trading volume of 1,147,518 shares, compared to its average volume of 520,993. Enovis has a 12 month low of $43.04 and a 12 month high of $66.14. The stock has a market capitalization of $2.81 billion, a PE ratio of -34.18 and a beta of 1.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.16. The stock has a 50-day simple moving average of $59.15 and a two-hundred day simple moving average of $55.74.

Analyst Upgrades and Downgrades

ENOV has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Enovis from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Canaccord Genuity Group boosted their price objective on shares of Enovis from $73.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Stephens assumed coverage on shares of Enovis in a report on Tuesday, February 13th. They set an "overweight" rating and a $72.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $82.00 price target on shares of Enovis in a research report on Friday. Finally, UBS Group began coverage on Enovis in a research report on Monday, January 22nd. They set a "buy" rating and a $75.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Enovis currently has a consensus rating of "Buy" and an average price target of $75.43.

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.