Ariel Investments LLC Boosts Stake in ZimVie Inc. $ZIMV

Key Points

• Ariel Investments LLC significantly increased its stake in ZimVie Inc. by 174.4%, owning 167,716 shares valued at approximately $1.81 million after acquiring more shares in the first quarter.
• In the latest quarterly earnings, ZimVie reported earnings per share of $0.26, exceeding analyst expectations of $0.21, with total revenue of $116.66 million.
• Wall Street analysts have given ZimVie a consensus rating of "Hold" with a target price of $17.75, reflecting mixed opinions on the stock's potential performance.

Ariel Investments LLC lifted its position in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 174.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,716 shares of the company's stock after acquiring an additional 106,589 shares during the quarter. Ariel Investments LLC owned 0.60% of ZimVie worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. J. Goldman & Co LP boosted its stake in shares of ZimVie by 167.5% during the 4th 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 in the last quarter. Neuberger Berman Group LLC raised its position in shares of ZimVie by 1.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,332,890 shares of the company's stock worth $14,435,000 after purchasing an additional 22,075 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ZimVie by 9.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock worth $17,367,000 after purchasing an additional 107,461 shares during the last quarter. American Century Companies Inc. raised its position in shares of ZimVie by 10.0% during the 1st quarter. American Century Companies Inc. now owns 690,675 shares of the company's stock worth $7,459,000 after purchasing an additional 62,625 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of ZimVie by 22.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company's stock worth $6,872,000 after purchasing an additional 117,229 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

ZimVie Stock Up 0.3%

ZIMV stock opened at $18.94 on Wednesday. The company has a market cap of $534.11 million, a price-to-earnings ratio of -27.06 and a beta of 2.19. 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 Inc. has a 12 month low of $8.15 and a 12 month high of $19.01. The firm has a 50-day moving average of $15.42 and a two-hundred day moving average of $12.02.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 EPS for the quarter, beating 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 negative net margin of 4.39% and a positive return on equity of 6.37%. As a group, analysts forecast that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.