Enovis

Enovis (NYSE: ENOV) this week posted first-quarter results that beat the overall consensus on Wall Street.

The Wilmington, Delaware-based company reported profit losses of $23.4 million, or 43¢ per share, on sales of $406.2 million, for the three months ended March 31, for a sales growth of 8.18% compared with Q1 2022. Profits slid from the year prior as well, when it reported $15.1 million in net earnings.

Adjusted to exclude one-time items, earnings per share were 44¢, 7¢ ahead of The Street, where analysts were looking for sales of $391.2 million.

“We had a great start to the 2023 fiscal year, exceeding our expectations with strong organic growth and expanding margins while supporting key investments in innovation and acquisitions,” CEO Matt Trerotola said in a news release. “We outperformed our markets with double-digit organic growth in Recon and mid-single-digit organic growth in P&R. We look forward to continuing our operating momentum while d…

Enovis (NYSE: ENOV) this week announced it signed a definitive agreement to acquire the Seal external fixation product line from DNE.

The financial details of the deal were not disclosed. The company said the transaction is subject to customary closing conditions and is expected to close toward the end of the second quarter of 2023.

“We are proud of the foundation we have built in the hindfoot segment with clinically differentiated products such as DynaNail, DynaNail Helix and Arsenal Ankle, and we are excited to further broaden our range of solutions with the addition of this leading external fixation line,” Gary Justak, president and GM of Enovis Foot & Ankle, said in a news release. “The acquisition of these great products demonstrates our commitment to the Foot & Ankle space as we continue to disrupt the market and provide innovative, comprehensive solutions for surgeons and their patients.”

DNE’s Seal is a foot and ankle external fixat…

Enovis (NYSE:ENOV) shares took a hit today on fourth-quarter results that fell shy of the consensus sales forecast.

Shares of ENOV dropped 5.3% to $58.33 apiece in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 8.2%.

The Wilmington, Delaware-based orthopedic device maker posted losses of $38.6 million. That amounts to losses of 71¢ per share on sales of $408.7 million for the three months ended Dec. 31, 2022.

Enovis, the parent company of DJO, recorded a massive bottom-line slide deeper into the red. However, revenues grew year-over-year by 2.4%.

Adjusted to exclude one-time items, earnings per share came in at 72¢. That landed 6¢ ahead of Wall Street. Sales fell short of expectations, though, as analysts projected $415.6 million in revenue.

“In our first year as an independent med-tech growth company, Enovis delivered strong financial re…

DynaClip Quattro bone staples [Image courtesy of Enovis]Enovis (NYSE: ENOV) today announced the launch of its procedure-specific DynaClip Delta and DynaClip Quattro bone staples.

The staples are the latest additions to Wilmington, Delaware–based Enovis’ growing foot and ankle portfolio. The portfolio includes the DynaClip family of bone fixation systems.

DynaClip Delta and DynaClip Quattro staples come pre-loaded on disposable inserters. The inserters facilitate quick deployment and accurate leg positioning, according to Enovis.

Additionally, Enovis designed the DynaClip Delta staples to enable faster and easier first metatarsophalangeal (MTP) fusion procedures. The company says the staples accomplish this without compromising on durability and performance.

Both DynaClip Delta and DynaClip Quattro use nitinol materials technology that provides sustained dynamic compression across fusion sites, according to Enovis. Unlike traditional nitinol sta…

The DynaNail Helix’s threads allow for easy insertion like a screw. But it also has the dynamic compressive power and stability of a nail. [Image courtesy of Enovis]Enovis Corp. (NYSE: ENOV) has launched the DynaNail Helix —the latest addition to its DynaNail family and suite of foot and ankle products.

As with other DynaNail systems, DynaNail Helix uses proprietary, nitinol-based materials technology. The NiTiNOL tech provides sustained dynamic compression properties for subtalar fusion.

At the same time, Enovis sought to give it an anatomically friendly design and simple, screw-like insertion. As a result, the Helix’s threads also allow for easy insertion like a screw while also providing a nail’s dynamic compressive power and stability.

“It provides sustained compression across the fusion site, which traditional screws cannot do,” said Dr. Christopher Hirose, a foot and ankle orthopedic surgeon based in Boise, Idaho.

Hirose added in the Enov…

Enovis (NYSE:ENOV) shares took a hit today on third-quarter results that came in ahead of the consensus forecast.

Shares of ENOV dipped 3.4% at $47.89 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose by 1%.

The Wilmington, Delaware-based company posted losses of $66.5 million for the quarter. That amounts to $1.22 per share on sales of $383.8 million for the three months ended Sept. 30, 2022.

Enovis, the parent company of DJO, recorded a big bottom-line slide into the red on sales growth of 6.6%. The company’s reconstructive segment drove growth with a 15% year-over-year improvement. Ongoing cost inflation provided a negative impact, the company said.

Adjusted to exclude one-time items, earnings per share totaled 59¢. That registered 9¢ ahead of Wall Street. Sales topped analyst expectations, too, as they projected $381.2 million. Read more