Enovis (NYSE:ENOV) Updates FY24 Earnings Guidance

Enovis (NYSE:ENOV - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.52-$2.67 for the period, compared to the consensus EPS estimate of $2.60. The company issued revenue guidance of $2.06-$2.16 billion, compared to the consensus revenue estimate of $2.12 billion.

Enovis Trading Down 5.9 %

Shares of NYSE:ENOV traded down $3.27 during trading on Thursday, hitting $52.13. The company had a trading volume of 1,664,166 shares, compared to its average volume of 470,214. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -85.46 and a beta of 1.99. Enovis has a one year low of $43.04 and a one year high of $66.14. The company has a fifty day simple moving average of $59.38 and a two-hundred day simple moving average of $55.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.43 and a quick ratio of 1.16.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.03. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $444.34 million. Enovis had a positive return on equity of 3.84% and a negative net margin of 1.95%. Enovis's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. As a group, equities analysts forecast that Enovis will post 2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company lifted 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 upped their target price on Enovis from $73.00 to $75.00 and gave the stock a buy rating in a research note on Friday, February 23rd. UBS Group assumed coverage on Enovis in a research note on Monday, January 22nd. They issued a buy rating and a $75.00 target price on the stock. Stephens assumed 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. Finally, William Blair assumed coverage on Enovis in a research note on Wednesday, January 3rd. They issued an outperform rating on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price 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.