Hsbc Holdings PLC Purchases New Position in ZimVie Inc. $ZIMV

Key Points

• Hsbc Holdings PLC acquired 13,339 shares of ZimVie Inc. for approximately $144,000 in the first quarter, reflecting growing institutional interest in the company.
• ZimVie reported $0.26 earnings per share for the last quarter, beating analyst estimates of $0.21, with revenue reaching $116.66 million.
• Wall Street analysts have mixed views on ZimVie, with Barclays upgrading the stock to "equal weight" and adjusting the target price to $19.00.

Hsbc Holdings PLC bought a new position in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,339 shares of the company's stock, valued at approximately $144,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of ZimVie during the 1st quarter worth $98,000. Wealthquest Corp purchased a new stake in ZimVie in the 1st quarter valued at about $182,000. Wealth Enhancement Advisory Services LLC raised its holdings 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 period. Deutsche Bank AG raised its holdings in ZimVie by 61.7% in the 4th quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock valued at $332,000 after buying an additional 9,084 shares during the period. Finally, Price T Rowe Associates Inc. MD raised 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 period. Institutional investors and hedge funds own 95.63% of the company's stock.

ZimVie Stock Up 0.1%

Shares of ZimVie stock traded up $0.02 on Thursday, reaching $18.88. 182,962 shares of the company were exchanged, compared to its average volume of 645,839. ZimVie Inc. has a 1-year low of $8.15 and a 1-year high of $19.01. The company has a market cap of $532.60 million, a P/E ratio of -26.97 and a beta of 2.19. 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 stock's 50 day moving average price is $16.72 and its 200-day moving average price is $12.30.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. The firm had revenue of $116.66 million during 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%. As a group, equities analysts forecast that ZimVie Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

ZIMV has been the topic of several research analyst reports. B. Riley lowered shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a report on Thursday, July 31st. Wall Street Zen lowered shares of ZimVie from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. UBS Group cut their price target on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Finally, Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, ZimVie has an average rating of "Hold" and an average 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.