American Century Companies Inc. Increases Stake in ZimVie Inc. $ZIMV

Key Points

• American Century Companies Inc. increased its stake in ZimVie Inc. by 10% in Q1, now holding approximately 690,675 shares worth about $7.46 million.
• ZimVie reported earnings of $0.26 per share for the latest quarter, exceeding analysts' expectations of $0.21, and had revenues of $116.66 million compared to a $112.60 million forecast.
• Analysts have recently offered mixed ratings for ZimVie, with B. Riley downgrading the stock to a "neutral" rating while Barclays upgraded it to "equal weight" with a price target of $19.00.

American Century Companies Inc. raised its stake in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 690,675 shares of the company's stock after acquiring an additional 62,625 shares during the period. American Century Companies Inc. owned approximately 2.48% of ZimVie worth $7,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in ZimVie by 5.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock valued at $211,000 after acquiring an additional 836 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ZimVie by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock worth $343,000 after purchasing an additional 1,852 shares during the period. Wells Fargo & Company MN lifted its stake in shares of ZimVie by 17.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,037 shares of the company's stock worth $238,000 after purchasing an additional 2,569 shares during the period. Monarch Capital Management Inc. lifted its stake in shares of ZimVie by 6.3% in the 1st quarter. Monarch Capital Management Inc. now owns 69,700 shares of the company's stock worth $753,000 after purchasing an additional 4,140 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of ZimVie by 61.7% in the 4th quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock worth $332,000 after purchasing an additional 9,084 shares during the period. Institutional investors own 95.63% of the company's stock.

ZimVie Stock Performance

NASDAQ ZIMV traded up $0.06 on Tuesday, reaching $18.94. 1,059,082 shares of the stock were exchanged, compared to its average volume of 314,657. ZimVie Inc. has a one year low of $8.15 and a one year high of $19.01. The firm has a market capitalization of $534.11 million, a PE ratio of -27.06 and a beta of 2.19. The company's 50-day simple moving average is $15.42 and its two-hundred day simple moving average is $12.02. 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 released its earnings results on Wednesday, July 30th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. The company had revenue of $116.66 million for the quarter, compared to analysts' expectations of $112.60 million. Analysts expect that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZIMV has been the topic of several recent research reports. Wall Street Zen cut shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group lowered their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. B. Riley cut shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research note on Thursday, July 31st. Finally, Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, ZimVie has a consensus rating of "Hold" and a consensus target price of $17.75.

ZimVie 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.