ZimVie Inc. $ZIMV Shares Acquired by Ariel Investments LLC

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 holdings in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 174.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,716 shares of the company's stock after acquiring an additional 106,589 shares during the period. Ariel Investments LLC owned 0.60% of ZimVie worth $1,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of ZimVie by 2,695.9% during the first quarter. AlphaQuest LLC now owns 8,947 shares of the company's stock worth $97,000 after buying an additional 8,627 shares during the period. Quantbot Technologies LP acquired a new stake in shares of ZimVie in the first quarter valued at about $98,000. Hsbc Holdings PLC purchased a new stake in ZimVie during the 1st quarter valued at about $144,000. State of Wyoming boosted its holdings in ZimVie by 132.2% in the 1st quarter. State of Wyoming now owns 16,318 shares of the company's stock valued at $176,000 after purchasing an additional 9,291 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of ZimVie in the 1st quarter worth approximately $182,000. 95.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZIMV has been the topic of several analyst reports. UBS Group lowered their target price on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. B. Riley downgraded shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, July 31st. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.75.

ZimVie Stock Up 0.2%

NASDAQ ZIMV traded up $0.04 on Monday, hitting $18.89. 51,397 shares of the company were exchanged, compared to its average volume of 327,300. The stock has a fifty day moving average of $16.00 and a 200-day moving average of $12.13. The company has a market cap of $532.75 million, a PE ratio of -26.98 and a beta of 2.20. 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.

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. 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 during the quarter, compared to analyst estimates of $112.60 million. As a group, analysts forecast 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.