Financial Data and Key Metrics Changes - The company reported second quarter sales of $525 million, representing a 23% increase year-over-year and a 5% increase on a comparable basis [13][14] - Adjusted EBITDA grew by 36%, with a margin of 17.2%, up 190 basis points compared to Q2 2023 [14] - Adjusted gross margin was 59.6%, an increase of 160 basis points year-over-year [14] Business Line Data and Key Metrics Changes - The Recon segment achieved 60% reported global revenue growth, with a 7% increase on a comparable basis [5] - The P&R segment experienced 3% comparable growth, reflecting a stable market environment [12] - U.S. Recon grew only 1%, with extremities and hips/knees each growing by 2%, indicating temporary challenges [5][9] Market Data and Key Metrics Changes - International markets for Recon grew by 14%, demonstrating resilience despite integration challenges [5] - The U.S. knee and hip business reported year-to-date growth of 2%, significantly below historical trends of over 17% [9] - The U.S. shoulder segment faced the most direct overlap with Lima, impacting growth due to integration-related disruptions [10][35] Company Strategy and Development Direction - The company is focused on integrating Lima and executing a multi-year plan to position itself as a high-growth global orthopedics player [6][7] - Cost synergy targets of $40 million within three years are aimed at eliminating duplicative functions and improving global processes [8] - New product launches, including a surgical impaction system and new hip stem designs, are expected to drive growth in 2025 and beyond [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that Q2 was the peak for integration-related dissynergies, expecting a tapering effect in the second half of the year [21] - The company anticipates a stronger second half of 2024, driven by annualizing higher prior year comparisons and realizing benefits from cross-selling [15][18] - Management highlighted the importance of innovation and product launches in sustaining growth and improving market share [49][50] Other Important Information - The company adjusted its full-year revenue guidance to a range of $2.08 billion to $2.13 billion, tightening the previous range [15] - The effective tax rate for the quarter was reported at 24%, an increase from 18% the previous year [14] - The company is raising its adjusted earnings per share range by $0.10 to $2.62 to $2.77 [16] Q&A Session Summary Question: Integration headwinds and confidence in the second half - Management confirmed that Q2 was expected to be the apex of integration-related headwinds, with a tapering effect anticipated in the second half [21] Question: Hiring trends and retention efforts post-Lima deal - Management reported strong retention of critical talent post-acquisition, with attrition levels running below expectations [24] Question: Performance relative to guidance and market conditions - Management acknowledged that while the results were not a beat, they aligned with expectations and market conditions were stable [27] Question: Guidance adjustments and divestiture impacts - Updated guidance includes the impact of divestitures, which were not accounted for in prior guidance [32] Question: Phasing of dissynergies and product ramp-up - Management indicated that dissynergies would decrease progressively, with more significant impacts expected in Q4 due to new product launches [42] Question: Sustainability of shoulder business growth amid competition - Management expressed confidence in the shoulder business returning to strong growth, supported by new product launches and innovative solutions [48][50] Question: Cross-selling benefits and early wins - Early wins in cross-selling were noted, particularly in international markets, with positive energy from combined teams [60][61]

Conference call/Webcast Information Kyle Rose Vice President, Investor Relations Enovis Corporation +1-917-734-7450 investorrelations@enovis.com Investors can access the live webcast via a link on the Enovis website. For those planning to participate on the call, please dial (833) 685-0901 (U.S. callers) and (412) 317-5715 (International callers) and ask to join the Enovis call. A link to a replay of the call will also be available on the Enovis website later that day. ABOUT ENOVIS Enovis Corporation (NYSE: ...

Wilmington, DE, July 16, 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 second quarter 2024 financial results on Wednesday, August 7, 2024 at 8:30 a.m. Eastern Time and issue an earnings press release earlier that morning. A presentation related to the call will be available on ir.enovis.com. ABOUT ENOVIS Investors and others should note that Enovis rou ...

Wilmington, DE, July 16, 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 second quarter 2024 financial results on Wednesday, August 7, 2024 at 8:30 a.m. Eastern Time and issue an earnings press release earlier that morning. A presentation related to the call will be available on ir.enovis.com. Conference call/Webcast Information Investors can access the ...

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 ...