Medical technology company Enovis Corporation (NYSE:ENOV) will be reporting results tomorrow before market hours. Here’s what to look for.

Enovis beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $561 million, up 23.3% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but full-year revenue guidance slightly missing analysts’ expectations.

Is Enovis a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Enovis’s revenue to grow 8.3% year on year to $558.9 million, slowing from the 27.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 per share.Enovis Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Enovis has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at Enovis’s peers in the medical devices & supplies - specialty segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Inspire Medical Systems delivered year-on-year revenue growth of 22.7%, beating analysts’ expectations by 3.1%, and Integer Holdings reported revenues up 7.3%, topping estimates by 2%. Inspire Medical Systems traded up 1.8% following the results while Integer Holdings was also up 2.6%.

Read our full analysis of Inspire Medical Systems’s results here and Integer Holdings’s results here.

There has been positive sentiment among investors in the medical devices & supplies - specialty segment, with share prices up 5.9% on average over the last month. Enovis is up 11.2% during the same time and is heading into earnings with an average analyst price target of $64.20 (compared to the current share price of $34.09).

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.

View Comments