Enovis (NYSE:ENOV) Issues Quarterly Earnings Results

Enovis (NYSE:ENOV) issued its quarterly earnings data on Wednesday. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10, Briefing.com reports. The company had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. Enovis’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. Enovis updated its FY 2024 guidance to 2.750-2.800 EPS.

Enovis Price Performance

ENOV traded up $0.96 during trading on Thursday, hitting $47.86. 1,502,365 shares of the stock were exchanged, compared to its average volume of 583,763. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $42.19 and a 200 day simple moving average of $45.63. Enovis has a 1 year low of $38.27 and a 1 year high of $65.03.

Analyst Ratings Changes

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

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.