Cubist Systematic Strategies LLC Purchases New Position in ZimVie Inc. $ZIMV

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in ZimVie Inc. worth approximately $261,000, purchasing 24,191 shares, which represents 0.09% of the company.
• ZimVie recently reported earnings exceeding analyst expectations, with earnings per share at $0.26 and revenue of $116.66 million, beating estimates of $0.21 and $112.60 million respectively.
• Analysts have mixed views on ZimVie stock, with Barclays upgrading it to "equal weight" and raising the price target to $19.00, while others have set lower targets, reflecting varied expectations for future performance.

Cubist Systematic Strategies LLC acquired a new stake in ZimVie Inc. (NASDAQ:ZIMV - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,191 shares of the company's stock, valued at approximately $261,000. Cubist Systematic Strategies LLC owned approximately 0.09% of ZimVie at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in ZimVie during the first quarter worth approximately $144,000. American Century Companies Inc. boosted its holdings in ZimVie by 10.0% during the first quarter. American Century Companies Inc. now owns 690,675 shares of the company's stock worth $7,459,000 after buying an additional 62,625 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in ZimVie during the fourth quarter worth approximately $416,000. Gamco Investors INC. ET AL boosted its stake in ZimVie by 22.6% in 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 period. Finally, Russell Investments Group Ltd. boosted its stake in ZimVie by 10.5% in the 1st quarter. Russell Investments Group Ltd. now owns 305,431 shares of the company's stock worth $3,299,000 after purchasing an additional 28,988 shares during the period. 95.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZIMV has been the subject of a number of research analyst reports. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. B. Riley lowered shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Thursday, July 31st. 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, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.75.

ZimVie Price Performance

Shares of ZimVie stock traded up $0.02 during trading on Monday, hitting $18.89. 254,962 shares of the company's stock traded hands, compared to its average volume of 328,418. 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's fifty day moving average price is $16.90 and its 200 day moving average price is $12.33. ZimVie Inc. has a twelve month low of $8.15 and a twelve month high of $19.01. The company has a market cap of $532.89 million, a PE ratio of -26.99 and a beta of 2.20.

ZimVie (NASDAQ:ZIMV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $116.66 million for the quarter, compared to analyst estimates of $112.60 million. 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.