Enovis (NYSE:ENOV) Issues FY23 Earnings Guidance

Enovis (NYSE:ENOVGet Free Report) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.22-2.36 for the period, compared to the consensus EPS estimate of $2.32.

Enovis Price Performance

ENOV opened at $53.59 on Friday. Enovis has a one year low of $43.88 and a one year high of $66.71. The business’s 50 day moving average price is $59.16 and its 200 day moving average price is $57.29. The company has a current ratio of 2.51, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12.

Enovis (NYSE:ENOVGet Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Enovis had a positive return on equity of 3.74% and a negative net margin of 8.52%. The firm had revenue of $428.50 million for the quarter, compared to analysts’ expectations of $420.06 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Enovis will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on ENOV shares. Robert W. Baird upped their price target on Enovis from $67.00 to $70.00 and gave the stock an outperform rating in a research note on Friday, August 4th. 888 restated an initiates rating on shares of Enovis in a research note on Monday, June 26th. Finally, Needham & Company LLC restated a buy rating and set a $70.00 price target on shares of Enovis in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Enovis has a consensus rating of Buy and a consensus price target of $65.29.

Read Our Latest Analysis on ENOV

Institutional Trading of Enovis

A number of large investors have recently modified their holdings of ENOV. Neuberger Berman Group LLC purchased a new stake in shares of Enovis during the first quarter worth $905,000. JPMorgan Chase & Co. purchased a new position in Enovis in the second quarter valued at $5,573,000. Bank of Montreal Can purchased a new position in Enovis in the second quarter valued at $532,000. UBS Group AG purchased a new position in Enovis in the second quarter valued at $1,211,000. Finally, FMR LLC purchased a new position in Enovis in the second quarter valued at $3,016,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Enovis

(Get Free Report)

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufacture 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.

Further Reading

Earnings History and Estimates for Enovis (NYSE:ENOV)

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