American Century Companies Inc. Buys 62,625 Shares of 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. increased its stake in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 690,675 shares of the company's stock after buying an additional 62,625 shares during the period. American Century Companies Inc. owned about 2.48% of ZimVie worth $7,459,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ZIMV. J. Goldman & Co LP raised its position in ZimVie by 167.5% in the fourth quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock worth $19,890,000 after acquiring an additional 892,785 shares during the period. Dimensional Fund Advisors LP grew its stake in ZimVie by 9.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock valued at $17,367,000 after acquiring an additional 107,461 shares in the last quarter. Ancora Advisors LLC lifted its position in ZimVie by 460.8% during the fourth quarter. Ancora Advisors LLC now owns 112,160 shares of the company's stock valued at $1,565,000 after purchasing an additional 92,160 shares during the last quarter. Nuveen LLC bought a new stake in ZimVie during the first quarter valued at approximately $901,000. Finally, Forest Hill Capital LLC lifted its position in ZimVie by 25.9% during the fourth quarter. Forest Hill Capital LLC now owns 172,809 shares of the company's stock valued at $2,411,000 after purchasing an additional 35,500 shares during the last quarter. Institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. B. Riley lowered shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a report on Thursday, July 31st. UBS Group reduced their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Barclays raised shares of ZimVie from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, ZimVie currently has a consensus rating of "Hold" and an average target price of $17.75.

ZimVie Stock Performance

Shares of NASDAQ:ZIMV traded down $0.02 during trading on Monday, hitting $18.88. The company's stock had a trading volume of 300,975 shares, compared to its average volume of 332,097. The company has a 50-day moving average of $15.01 and a 200-day moving average of $11.94. ZimVie Inc. has a 12 month low of $8.15 and a 12 month high of $19.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.37 and a quick ratio of 1.60. The firm has a market cap of $532.42 million, a price-to-earnings ratio of -26.97 and a beta of 2.20.

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

About ZimVie

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.