Hsbc Holdings PLC Acquires Shares of 13,339 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 stake in ZimVie Inc. (NASDAQ:ZIMV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,339 shares of the company's stock, valued at approximately $144,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in ZimVie in the first quarter valued at about $98,000. Wealthquest Corp acquired a new stake in shares of ZimVie during the first quarter worth about $182,000. Wealth Enhancement Advisory Services LLC raised its position in shares of ZimVie by 5.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock worth $211,000 after purchasing an additional 836 shares during the period. Deutsche Bank AG raised its position in shares of ZimVie by 61.7% during the fourth quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock worth $332,000 after purchasing an additional 9,084 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of ZimVie by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock worth $343,000 after purchasing an additional 1,852 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

ZimVie Stock Down 0.2%

ZIMV stock traded down $0.03 during mid-day trading on Tuesday, reaching $18.86. The company had a trading volume of 179,699 shares, compared to its average volume of 327,773. 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 has a 50 day simple moving average of $16.19 and a two-hundred day simple moving average of $12.17. The company has a market capitalization of $532.04 million, a price-to-earnings ratio of -26.94 and a beta of 2.20. 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 results on Wednesday, July 30th. The company reported $0.26 earnings per share 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 predict that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZIMV. Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group dropped 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 raised ZimVie from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Finally, B. Riley lowered 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. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock 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.