Cubist Systematic Strategies LLC Takes $261,000 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 shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,191 shares of the company's stock, valued at approximately $261,000. Cubist Systematic Strategies LLC owned about 0.09% of ZimVie as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZIMV. Wealth Enhancement Advisory Services LLC grew its stake in ZimVie by 5.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock valued at $211,000 after buying an additional 836 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of ZimVie by 4.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,000 shares of the company's stock valued at $454,000 after purchasing an additional 1,690 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ZimVie by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock valued at $343,000 after buying an additional 1,852 shares during the last quarter. Monarch Capital Management Inc. grew its holdings in ZimVie by 6.3% in the 1st quarter. Monarch Capital Management Inc. now owns 69,700 shares of the company's stock valued at $753,000 after buying an additional 4,140 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in ZimVie by 27.2% in the 1st quarter. Trexquant Investment LP now owns 21,901 shares of the company's stock valued at $237,000 after buying an additional 4,689 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

ZimVie Price Performance

Shares of ZimVie stock traded down $0.01 during trading on Wednesday, hitting $18.88. 360,121 shares of the company's stock traded hands, compared to its average volume of 635,698. 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 $17.46 and its 200 day moving average price is $12.46. 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 $532.60 million, a PE ratio of -26.97 and a beta of 2.19.

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. The business had revenue of $116.66 million for the quarter, compared to analyst estimates of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. Analysts forecast that ZimVie Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ZIMV shares. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. B. Riley lowered shares of 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. 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.