Enovis (ENOV)

NYSEHealth CareMedical - DevicesSnapshot 2026-10-23

$21.08-2.36%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Enovis’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-4.0%

+10% or more+5%0%−5%−10% or less

3.69 → 3.54 EPS · FY ending Dec 31, 2027 · 6 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 6; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	609.75M
EPS	—	1.068
FY 2026 · Annual
Revenue	—	2.34B
EPS	$3.52–$3.73non-GAAP	3.627
EBITDA	$425M–$435Mnon-GAAP	—
Revenue growth	4%–6%	—
FY 2027 · Annual
Revenue	—	2.45B
EPS	—	3.543

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Adjusted EBITDA near $430 million	Profit rises with adjusted EBITDA near $430 million.	Broken	Adjusted EBITDA falls below $425 million in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Adjusted EBITDA guidance for 2026 is maintained at $425-435 million, up from 2025 actuals near $400 million. This reflects management's focus on improving profitability. The trajectory shows progress with stable and increased guidance. Delivery assessment Oct 24, 2026
Innovation in orthopedics drives growth	Innovation in orthopedics helps keep sales strong.	Improving	Innovation efforts stall or fail to advance orthopedics products	Qualitative: Active innovation (Spinamic, eCential acquisition) vs target of sustained advances Spinamic launch and eCential acquisition advance orthopedic innovation, offset by Q2 earnings miss and lowered price targets. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Enovis reported organic sales growth of 5% in 2026-Q2 and 3% in 2026-Q1, with reconstructive sales growing 6-11% organically. Management emphasizes commercial execution and innovation as key drivers. The trajectory shows delivering growth aligned with stated priorities. Delivery assessment Oct 24, 2026
Revenue grows to about $2.34 billion	Enovis grows revenue about 5% a year to $2.34 billion in 2026.	Broken	Revenue falls below $2.31 billion in FY26	Revenue: $582.782M FY2026-Q2; GAAP. Published target: ~$2.34 billion. Target period is not explicitly aligned with this observation. Source published Aug 6, 2026582,782,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jul 3, 2026 Source: company_financial_results. Reference: e9281178-c109-4067-bc9b-df4bf1897115. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Revenue guidance for 2026 is reaffirmed at $2.31-2.37 billion, reflecting 4-6% organic growth. This follows 2025 actual revenue of approximately $2.25 billion, showing consistent growth expectations. The trajectory is delivering as management maintains stable guidance. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$3.54

$4.08 → $3.54 · observed estimates

FY2027 revenue$2.45B

$2.47B → $2.45B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$4.08	$2,465,816,420	12 / 12
2026-07-25	$4.08	$2,465,816,420	12 / 12
2026-07-26	$4.08	$2,465,816,420	12 / 12
2026-07-27	$4.08	$2,465,816,420	12 / 12
2026-07-28	$4.08	$2,466,010,081	6 / 8
2026-07-29	$4.08	$2,466,010,081	6 / 8
2026-07-30	$4.08	$2,465,922,670	13 / 13
2026-07-31	$4.08	$2,465,922,670	13 / 13
2026-08-01	$4.08	$2,466,101,438	7 / 9
2026-08-02	$4.08	$2,465,922,670	13 / 13
2026-08-03	$4.08	$2,465,922,670	13 / 13
2026-08-04	$4.08	$2,466,078,361	7 / 9
2026-08-05	$4.08	$2,465,922,670	13 / 13
2026-08-06	$4.08	$2,466,078,361	7 / 9
2026-08-07	$4.07	$2,464,061,914	7 / 9
2026-08-08	$4.07	$2,459,441,380	13 / 11
2026-08-09	$4.07	$2,459,441,380	13 / 11
2026-08-10	$4.07	$2,459,441,380	13 / 11
2026-08-11	$4.07	$2,464,061,914	7 / 9
2026-08-12	$4.06	$2,457,699,410	13 / 13
2026-08-13	$4.06	$2,457,699,410	13 / 13
2026-08-14	$4.07	$2,464,061,914	7 / 9
2026-08-15	$4.07	$2,464,061,914	7 / 9
2026-08-16	$4.07	$2,464,061,914	7 / 9
2026-08-17	$4.07	$2,464,061,914	7 / 9
2026-08-18	$4.07	$2,464,061,914	7 / 9
2026-08-19	$4.07	$2,464,061,914	7 / 9
2026-08-20	$4.01	$2,454,708,120	6 / 9
2026-08-21	$4.01	$2,454,708,120	6 / 9
2026-08-22	$4.01	$2,454,707,843	6 / 9
2026-08-23	$4.01	$2,453,784,766	6 / 9
2026-08-24	$4.01	$2,453,784,766	6 / 9
2026-08-25	$4.01	$2,453,784,766	6 / 9
2026-08-26	$4.01	$2,453,784,766	6 / 9
2026-08-27	$4.01	$2,453,784,766	6 / 9
2026-08-28	$4.01	$2,453,784,766	6 / 9
2026-08-29	$4.01	$2,453,784,766	6 / 9
2026-08-30	$4.01	$2,453,784,766	6 / 9
2026-08-31	$4.01	$2,453,784,766	6 / 9
2026-09-01	$4.01	$2,453,784,766	6 / 9
2026-09-02	$4.01	$2,453,784,766	6 / 9
2026-09-03	$3.69	$2,453,787,620	6 / 9
2026-09-04	$3.69	$2,453,787,620	6 / 9
2026-09-05	$3.69	$2,453,787,620	6 / 9
2026-09-06	$3.69	$2,453,787,620	6 / 9
2026-09-07	$3.69	$2,453,787,620	6 / 9
2026-09-08	$3.69	$2,453,787,620	6 / 9
2026-09-09	$3.69	$2,453,787,620	6 / 9
2026-09-10	$3.69	$2,454,172,235	6 / 9
2026-09-11	$3.69	$2,454,172,235	6 / 9
2026-09-12	$3.69	$2,454,172,235	6 / 9
2026-09-13	$3.69	$2,454,172,235	6 / 9
2026-09-14	$3.69	$2,454,172,235	6 / 9
2026-09-15	$3.69	$2,454,172,235	6 / 9
2026-09-16	$3.69	$2,454,172,235	6 / 9
2026-09-17	$3.69	$2,454,172,235	6 / 9
2026-09-18	$3.69	$2,454,172,235	6 / 9
2026-09-19	$3.69	$2,454,172,235	6 / 9
2026-09-20	$3.69	$2,454,172,235	6 / 9
2026-09-21	$3.69	$2,454,172,235	6 / 9
2026-09-22	$3.69	$2,454,172,235	6 / 9
2026-09-23	$3.69	$2,454,172,235	6 / 9
2026-09-24	$3.69	$2,454,172,235	6 / 9
2026-09-25	$3.69	$2,454,172,235	6 / 9
2026-09-26	$3.69	$2,454,172,235	6 / 9
2026-09-27	$3.69	$2,454,172,235	6 / 9
2026-09-28	$3.69	$2,454,172,235	6 / 9
2026-09-29	$3.69	$2,454,172,235	6 / 9
2026-09-30	$3.69	$2,454,172,235	6 / 9
2026-10-01	$3.69	$2,454,172,235	6 / 9
2026-10-02	$3.69	$2,454,172,235	6 / 9
2026-10-03	$3.69	$2,454,172,235	6 / 9
2026-10-04	$3.64	$2,453,313,250	6 / 9
2026-10-05	$3.64	$2,453,313,250	6 / 9
2026-10-06	$3.59	$2,453,697,866	6 / 9
2026-10-07	$3.59	$2,453,697,866	6 / 9
2026-10-08	$3.59	$2,453,697,866	6 / 9
2026-10-09	$3.59	$2,453,697,866	6 / 9
2026-10-10	$3.59	$2,453,697,866	6 / 9
2026-10-11	$3.59	$2,453,697,866	6 / 9
2026-10-12	$3.59	$2,453,697,866	6 / 9
2026-10-13	$3.54	$2,453,695,012	6 / 9
2026-10-14	$3.54	$2,453,695,012	6 / 9
2026-10-15	$3.54	$2,453,695,012	6 / 9
2026-10-16	$3.54	$2,453,695,012	6 / 9
2026-10-17	$3.54	$2,453,695,012	6 / 9
2026-10-18	$3.54	$2,453,695,012	6 / 9
2026-10-19	$3.54	$2,453,695,012	6 / 9
2026-10-20	$3.54	$2,453,695,012	6 / 9
2026-10-21	$3.54	$2,453,695,012	6 / 9
2026-10-22	$3.54	$2,453,695,012	6 / 9
2026-10-23	$3.54	$2,453,695,012	6 / 9
2026-10-24	$3.54	$2,453,695,012	6 / 9

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	11	1
2026-06-01	11	1
2026-07-01	12	1
2026-08-01	12	1
2026-09-01	12	1
2026-10-01	12	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 12 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

NeedhamOct 12

$34.00New observation · no comparable prior

UBSOct 5 · prior Jul 28

$51.00 → $44.00-13.7%

$0$28.05$56.10

0 raises · 1 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Adjusted EBITDA near $430 millionPublished status: Broken
Revenue grows to about $2.34 billionPublished status: Broken

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.7%Typical daily move · historical

Downside history

-47.0%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Enovis outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

ENOV is a growth and execution story in the healthcare sector, with a cyclical risk component. Its 1-to-3-year thesis is intact, though the signal recently shifted from mildly favorable to mixed after an earnings miss.

What's priced into Enovis

The evidence describes ENOV as cheap versus peers, with low signs of fragility in what is priced in. The expectations gap is negative, but confidence in that valuation read is medium; the company is still loss-making, so valuation should be considered alongside execution risk.

What the fundamentals likely do

Near-term results have been strong overall, with organic sales growth of 5% in the second quarter and 3% in the first, while reconstructive sales grew 6% to 11%. Management has reaffirmed 2026 revenue guidance of $2.31 billion to $2.37 billion and adjusted EBITDA guidance of $425 million to $435 million, but a recent earnings miss and a run of misses make the next update important.

What Enovis hinges on

The multi-year view depends on whether commercial execution and innovation can sustain growth while management delivers its revenue and profitability guidance. Near term, a guidance cut or further weakening in jobs data could weigh on cyclical healthcare names, while continued strong results and guidance from sector bellwethers could support the sector backdrop.