Charles Schwab Investment Management Inc. Sells 16,775 Shares of ZimVie Inc. $ZIMV

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in ZimVie Inc. by 4.0%, selling 16,775 shares and now holding approximately 403,124 shares worth about $4.35 million.
• ZimVie reported earnings of $0.26 per share, exceeding analysts' expectations, with revenues of $116.66 million for the quarter.
• Analysts have varied ratings for ZimVie, with Barclays upgrading the stock to an "equal weight" rating and a target price increase to $19.00.

Charles Schwab Investment Management Inc. lowered its position in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 403,124 shares of the company's stock after selling 16,775 shares during the period. Charles Schwab Investment Management Inc. owned about 1.45% of ZimVie worth $4,354,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ZIMV. J. Goldman & Co LP grew its holdings in ZimVie by 167.5% during the fourth quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock valued at $19,890,000 after purchasing an additional 892,785 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 107,461 shares during the period. Ancora Advisors LLC grew its holdings 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 period. Forest Hill Capital LLC grew its holdings 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 period. Finally, D. E. Shaw & Co. Inc. grew its holdings in ZimVie by 12.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 301,316 shares of the company's stock valued at $4,203,000 after purchasing an additional 32,551 shares during the period. Institutional investors own 95.63% of the company's stock.

ZimVie Price Performance

Shares of NASDAQ:ZIMV traded down $0.02 during mid-day trading on Monday, reaching $18.88. The stock had a trading volume of 300,975 shares, compared to its average volume of 332,097. The company has a current ratio of 2.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. The company has a market cap of $532.42 million, a P/E ratio of -26.97 and a beta of 2.20. ZimVie Inc. has a 1 year low of $8.15 and a 1 year high of $19.00. The business's 50 day moving average price is $15.01 and its 200 day moving average price is $11.94.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted 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. The company had revenue of $116.66 million for 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%. Research analysts expect that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.