ZimVie Inc. $ZIMV Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its position in ZimVie Inc. by 16.1%, now holding approximately 0.77% of the company worth $2.3 million, after selling nearly 41,000 shares in the first quarter.
• Other institutional investors have also altered their stakes, with AlphaQuest LLC raising its stake by over 2,695% during the same period.
• ZimVie reported earnings of $0.26 per share, surpassing analysts' estimates, and the stock has seen recent price target adjustments, with a consensus average of $17.75.

Acadian Asset Management LLC lessened its position in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,018 shares of the company's stock after selling 40,998 shares during the quarter. Acadian Asset Management LLC owned about 0.77% of ZimVie worth $2,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of ZimVie in the first quarter valued at approximately $144,000. American Century Companies Inc. increased its holdings in shares of ZimVie by 10.0% in the first quarter. American Century Companies Inc. now owns 690,675 shares of the company's stock valued at $7,459,000 after purchasing an additional 62,625 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of ZimVie in the fourth quarter valued at approximately $416,000. Gamco Investors INC. ET AL increased its holdings in shares of ZimVie by 22.6% in the first quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company's stock valued at $6,872,000 after purchasing an additional 117,229 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of ZimVie by 140.1% in the first quarter. Ancora Advisors LLC now owns 269,290 shares of the company's stock valued at $2,908,000 after purchasing an additional 157,130 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

ZIMV has been the subject of several recent analyst reports. Wall Street Zen cut ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Barclays raised ZimVie from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, B. Riley cut ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.75.

ZimVie Stock Up 0.1%

NASDAQ:ZIMV traded up $0.01 during midday trading on Friday, reaching $18.91. The company had a trading volume of 713,321 shares, compared to its average volume of 631,090. The firm has a market capitalization of $533.45 million, a price-to-earnings ratio of -27.01 and a beta of 2.19. The stock's fifty day simple moving average is $17.85 and its 200-day simple moving average is $12.54. ZimVie Inc. has a 12-month low of $8.15 and a 12-month high of $19.01. The company has a current ratio of 2.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. The company had revenue of $116.66 million during the quarter, compared to the consensus estimate of $112.60 million. ZimVie had a positive return on equity of 6.37% and a negative net margin of 4.39%. On average, sell-side analysts anticipate that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

ZimVie Company Profile

ZimVie Inc, together with its subsidiaries, develops, manufactures, and markets a portfolio of products and solutions designed to treat various spine pathologies, and support dental tooth replacement and restoration procedures worldwide. It operates through two segments, The Dental Segment and The Spine Segment.