Enovis (ENOV) recently introduced the AltiVate Reverse Glenoid System, expanding the glenoid implant offering of the AltiVate Reverse by including modular and augmented baseplates. The new full-range solution adds bone-sparing baseplate, peripheral fixation and glenosphere options to the proven Reverse Shoulder Prosthesis (RSP) glenoid baseplate while maintaining simplicity and efficiency. The AltiVate Reverse Glenoid System, an important addition to Enovis' industry-leading AltiVate products, received FDA ...

snoofek/iStock via Getty Images A Slight Step Back In The Last Quarter Q2 Results Will Likely Be Similar Enovis Should Have What It Needs To Compete The Outlook The Bottom Line The performance of mid-cap medical device company Enovis (NYSE:ENOV) is getting harder and harder for me to understand. As I've said in past articles, I've never really loved this business, and I've found some of management's projections to be overly optimistic, but I do think there is a solid orthopedic device business here, and I f ...

"We are very pleased to offer a modular, augmented baseplate based on the proven central screw fixation principle of our legacy Reverse Shoulder Prosthesis (RSP®) system2," said Louie Vogt, Group President of Enovis™ Reconstructive Business Group. "This addition to our market-leading AltiVate Reverse continues our long history of surgeon-driven innovation and commitment to exceptional patient outcomes." The first surgery using AltiVate Reverse® Glenoid was conducted by Dr. Mark Frankle at Tampa General Hosp ...

Group 1: Repligen Corp (RGEN) - Repligen appointed Olivier Loeillot as Chief Executive Officer, effective September 1 [3] - The company's stock has fallen approximately 28% over the past month, reaching a 52-week low of $110.45 [3] - The Relative Strength Index (RSI) for Repligen is at 22.62, indicating it is oversold [3] Group 2: Enovis Corp (ENOV) - Enovis reported better-than-expected quarterly results on May 2, with revenues and operating margins exceeding expectations [10] - Despite the positive results, the stock has decreased around 12% over the past month, with a 52-week low of $43.04 [10] - The RSI for Enovis is at 25.21, suggesting it is also in an oversold condition [10] Group 3: Penumbra Inc (PEN) - Penumbra announced upbeat quarterly earnings on May 7, yet its stock fell about 8% over the past five days [11] - The stock has a 52-week low of $170.59 [11] - The RSI for Penumbra is at 28.39, indicating it is nearing oversold territory [11]

The Medical Info Systems industry has witnessed exponential growth thanks to the growing demand for contactless services. The need for a distant treatment option and a paperless environment has led to a tremendous upsurge in digital healthcare options. Added to this is the latest GenAI wave, which has significantly sped up the acceptance and usage of advanced digital healthcare and telemedicine on a global scale. Per GlobalData research, the use of AI in the medical device market is expected to witness a CA ...

A downtrend has been apparent in Enovis (ENOV) lately with too much selling pressure. The stock has declined 15.5% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spottin ...

• aEPS assumes shares of ~56mm aEPS © 2024 Enovis Corporation 7 • Lima integration milestones on track, exciting momentum building globally enovis Three Months Ended enovis. Enovis Corporation Reconciliation of GAAP to Non-GAAP Financial Measures Dollars in millions, except per share data (1) Net loss from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net loss from continuing operations less the continuing operations component of the income attributa ...

Enovis (ENOV) came out with quarterly earnings of $0.50 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this manufacturing and engineering company would post earnings of $0.76 per share when it actually produced earnings of $0.79, delivering a surprise of 3.95%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Enovis, w ...

[Enovis First Quarter 2024 Performance Overview](index=1&type=section&id=Enovis%20First%20Quarter%202024%20Performance%20Overview) Enovis reported strong Q1 2024 results, driven by strategic acquisitions and segment growth, leading to increased financial guidance for the full year [First Quarter 2024 Financial and Business Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20and%20Business%20Highlights) Enovis reported strong Q1 2024 financial performance with significant net sales growth driven by strategic acquisitions and segment expansion, alongside improved adjusted EBITDA Key Financial Highlights | Financial Metric (in millions) | Q1 2024 | Q1 2023 | Change | Proforma Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $516 | $406 | +27% | +5% | | Net Loss from Continuing Ops | ($72) | ($22.8) | - | - | | Adjusted EBITDA | $83 | $56.4 | +47.5% | - | | Adjusted EBITDA Margin | 16.1% | 13.9% | +220 bps | - | | Net Loss per Share (GAAP) | ($1.32) | ($0.42) | - | - | | Adjusted EPS (diluted) | $0.50 | $0.44 | +13.6% | - | - Segment performance was led by the Reconstructive (Recon) division, which grew **66%** on a reported basis and **7%** on a proforma basis, while the Prevention & Recovery (P&R) segment grew **3%** on both a reported and organic basis[3](index=3&type=chunk) - Key strategic achievements in the quarter include closing the transformative acquisition of LimaCorporate S.p.A. and launching Arvis 2.0, Lima Trabecular Titanium Cones, and ROAM OA at the AAOS Annual Meeting[5](index=5&type=chunk)[8](index=8&type=chunk) [2024 Financial Outlook](index=2&type=section&id=2024%20Financial%20Outlook) Enovis has raised its full-year 2024 financial guidance, anticipating higher revenue, increased adjusted EBITDA, and improved adjusted earnings per share Updated 2024 Financial Guidance | Metric | Previous 2024 Guidance | Updated 2024 Guidance | | :--- | :--- | :--- | | Revenue (in billions) | $2.05 - $2.15 | $2.06 - $2.16 | | Adjusted EBITDA (in millions) | $365 - $380 | $368 - $383 | | Adjusted EPS (diluted) | $2.50 - $2.65 | $2.52 - $2.67 | [Corporate Information and Disclosures](index=2&type=section&id=Corporate%20Information%20and%20Disclosures) This section outlines corporate disclosures, including forward-looking statements subject to various risks and the company's use of non-GAAP financial measures for clearer performance insights - Forward-looking statements are subject to risks including, but not limited to, the integration of the Lima acquisition, macroeconomic pressures, supply chain disruptions, and geopolitical tensions[12](index=12&type=chunk) - The company utilizes non-GAAP financial measures such as adjusted net income, adjusted EBITDA, and organic sales growth to help management and investors compare operating performance over time by excluding items that may obscure underlying business trends[13](index=13&type=chunk)[17](index=17&type=chunk) [Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements, including statements of operations, balance sheets, and cash flows, for the reported period [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Enovis reported Q1 2024 net sales of **$516.3 million**, an increase from the prior year, alongside a widened operating loss and increased net loss from continuing operations Condensed Consolidated Statements of Operations (Unaudited) | (In thousands, except per share data) | Three Months Ended Mar 29, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Net sales | $516,266 | $406,151 | | Gross profit | $297,896 | $235,065 | | Operating loss | $(35,014) | $(24,968) | | Net loss from continuing operations | $(71,841) | $(22,846) | | Net loss per share - continuing ops | $(1.32) | $(0.42) | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 29, 2024, Enovis's total assets increased to **$5.48 billion**, primarily due to acquisitions, while total liabilities also rose significantly to **$2.17 billion**, largely from increased long-term debt Condensed Consolidated Balance Sheets (Unaudited) | (In thousands) | March 29, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total current assets | $1,150,719 | $896,519 | | Goodwill | $2,414,611 | $2,060,893 | | Intangible assets, net | $1,408,310 | $1,127,363 | | **Total assets** | **$5,478,681** | **$4,509,334** | | Total current liabilities | $549,132 | $369,607 | | Long-term debt, less current portion | $1,318,463 | $466,164 | | **Total liabilities** | **$2,167,839** | **$1,088,633** | | **Total equity** | **$3,310,842** | **$3,420,701** | - The balance sheet reflects the impact of recent acquisitions, with Goodwill increasing by approximately **$354 million** and Intangible assets increasing by **$281 million** since year-end 2023, with Long-term debt increasing by over **$850 million** to finance these activities[30](index=30&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, Enovis reported a net cash outflow from operating activities and significant cash usage in investing activities, primarily for acquisitions, largely offset by cash provided from financing activities Condensed Consolidated Statements of Cash Flows (Unaudited) | (In thousands) | Three Months Ended Mar 29, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(36,156) | $7,457 | | Net cash used in investing activities | $(797,842) | $(34,385) | | Net cash provided by financing activities | $864,540 | $24,498 | | **Increase (decrease) in Cash** | **$29,714** | **$(2,395)** | - The significant cash outflow for investing activities was driven by **$760.9 million** in payments for acquisitions, funded by a substantial inflow from financing activities, including **$400 million** from a term credit facility and **$480 million** from revolving credit facilities[32](index=32&type=chunk) [Non-GAAP Reconciliations and Supplemental Data](index=5&type=section&id=Non-GAAP%20Reconciliations%20and%20Supplemental%20Data) This section provides reconciliations of GAAP to non-GAAP financial measures and supplemental sales data, offering additional insights into the company's performance [Reconciliation of Net Income and EPS](index=5&type=section&id=Reconciliation%20of%20Net%20Income%20and%20EPS) Enovis reconciled its Q1 2024 GAAP net loss from continuing operations of **$72.0 million** to a non-GAAP adjusted net income of **$27.7 million**, resulting in an adjusted diluted EPS of **$0.50** Reconciliation of Net Income and EPS (Non-GAAP) | (In millions, except per share) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss from continuing operations (GAAP) | $(72.0) | $(23.0) | | Amortization of acquired intangibles | $40.9 | $32.0 | | Strategic transaction costs | $20.8 | $11.6 | | Other (income) expense, net | $24.2 | $(0.7) | | **Adjusted net income (non-GAAP)** | **$27.7** | **$24.1** | | Net loss per share (GAAP) | $(1.32) | $(0.42) | | **Adjusted net income per share (non-GAAP)** | **$0.50** | **$0.44** | [Reconciliation of Adjusted EBITDA](index=6&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA) Enovis reconciled its Q1 2024 GAAP operating loss of **$35.0 million** to a non-GAAP adjusted EBITDA of **$83.2 million**, achieving a **16.1%** adjusted EBITDA margin Reconciliation of Adjusted EBITDA (Non-GAAP) | (In millions) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Operating loss (GAAP) | $(35.0) | $(25.0) | | Amortization of acquired intangibles | $40.9 | $32.0 | | Depreciation and other amortization | $27.2 | $20.0 | | Strategic transaction costs | $20.8 | $11.6 | | **Adjusted EBITDA (non-GAAP)** | **$83.2** | **$56.4** | | **Adjusted EBITDA margin (non-GAAP)** | **16.1%** | **13.9%** | [Reconciliation of Gross Margin](index=7&type=section&id=Reconciliation%20of%20Gross%20Margin) The company's Q1 2024 GAAP gross margin was **57.7%**, while the non-GAAP adjusted gross margin improved to **58.7%** after accounting for inventory step-up Reconciliation of Gross Margin (Non-GAAP) | (In millions) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Gross profit (GAAP) | $297.9 | $235.1 | | Gross profit margin (GAAP) | 57.7% | 57.9% | | Inventory step-up | $5.1 | $0.1 | | **Adjusted gross profit (Non-GAAP)** | **$303.0** | **$235.5** | | **Adjusted gross profit margin (Non-GAAP)** | **58.7%** | **58.0%** | [Net Sales by Segment](index=8&type=section&id=Net%20Sales%20by%20Segment) Total net sales grew **27.1%** reported and **5.1%** proforma, primarily driven by the Reconstructive segment's **65.5%** reported growth, while Prevention & Recovery saw **3.3%** growth Net Sales by Segment (Unaudited) | (In thousands) | Q1 2024 Sales | GAAP Growth | Proforma Growth | | :--- | :--- | :--- | :--- | | **Prevention & Recovery** | **$259,013** | **3.3%** | **3.3%** | | U.S. Bracing & Support | $104,574 | 0.2% | 0.2% | | U.S. Other P&R | $66,350 | 6.4% | 6.4% | | International P&R | $88,089 | 4.8% | 4.8% | | **Reconstructive** | **$257,253** | **65.5%** | **7.0%** | | U.S. Reconstructive | $123,735 | 19.6% | 4.1% | | International Reconstructive | $133,518 | 157.2% | 10.0% | | **Total** | **$516,266** | **27.1%** | **5.1%** |

Wilmington, DE, April 17, 2024 (GLOBE NEWSWIRE) -- Enovis™ Corporation (NYSE:ENOV), an innovation-driven, medical technology growth company, announced that it will host an investor conference call and live webcast to discuss its first quarter 2024 financial results on Thursday, May 2, 2024 at 8:00 a.m. Eastern Time and issue an earnings press release earlier that morning. A presentation related to the call will be available on www.enovis.com in the "Investors" section. Conference call/Webcast Information In ...