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. cut its holdings in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 403,124 shares of the company's stock after selling 16,775 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.45% of ZimVie worth $4,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in ZimVie by 5.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock valued at $211,000 after purchasing an additional 836 shares during the last quarter. Wealthquest Corp purchased a new stake in ZimVie during the first quarter valued at about $182,000. Wells Fargo & Company MN lifted its holdings in ZimVie by 17.8% during the fourth quarter. Wells Fargo & Company MN now owns 17,037 shares of the company's stock valued at $238,000 after purchasing an additional 2,569 shares during the last quarter. Deutsche Bank AG lifted its holdings in ZimVie by 61.7% during the fourth quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock valued at $332,000 after purchasing an additional 9,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in ZimVie by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock valued at $343,000 after purchasing an additional 1,852 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

ZimVie Price Performance

Shares of ZIMV stock traded down $0.08 during trading on Wednesday, hitting $18.86. The company had a trading volume of 6,039,447 shares, compared to its average volume of 314,657. The company has a quick ratio of 1.60, a current ratio of 2.37 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average is $15.61 and its two-hundred day moving average is $12.07. The stock has a market capitalization of $531.85 million, a price-to-earnings ratio of -26.94 and a beta of 2.19. ZimVie Inc. has a 52 week low of $8.15 and a 52 week high of $19.01.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted 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 company 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%. As a group, analysts predict that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZIMV. B. Riley cut ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research report on Thursday, July 31st. UBS Group decreased their price target on ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Barclays upgraded ZimVie from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently 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.