Jacobs Levy Equity Management Inc. Lowers Stock Position in ZimVie Inc. $ZIMV

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in ZimVie Inc. by 54.9% during the first quarter, owning 149,776 shares after selling 182,406 shares.
• Multiple hedge funds have increased their positions in ZimVie, with Ancora Advisors LLC lifting its stake by 140.1%.
• ZimVie reported a quarterly earnings per share of $0.26, surpassing estimates, and has a market cap of $532.04 million.

Jacobs Levy Equity Management Inc. decreased its position in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 54.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,776 shares of the company's stock after selling 182,406 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.54% of ZimVie worth $1,618,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC grew its stake in shares of ZimVie by 2,695.9% in the first quarter. AlphaQuest LLC now owns 8,947 shares of the company's stock worth $97,000 after acquiring an additional 8,627 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of ZimVie in the first quarter worth $98,000. Hsbc Holdings PLC purchased a new stake in shares of ZimVie in the first quarter worth $144,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of ZimVie by 5.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock worth $211,000 after acquiring an additional 836 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of ZimVie by 132.2% in the first quarter. State of Wyoming now owns 16,318 shares of the company's stock worth $176,000 after acquiring an additional 9,291 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

ZimVie Price Performance

Shares of ZimVie stock remained flat at $18.89 during trading hours on Tuesday. The company's stock had a trading volume of 240,624 shares, compared to its average volume of 643,948. The business's 50 day moving average is $17.27 and its 200 day moving average is $12.42. The company has a market capitalization of $532.89 million, a price-to-earnings ratio of -26.99 and a beta of 2.19. ZimVie Inc. has a 1-year low of $8.15 and a 1-year high of $19.01. The company has a quick ratio of 1.60, a current ratio of 2.37 and a debt-to-equity ratio of 0.56.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released 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 business 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%. Sell-side analysts anticipate that ZimVie Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Barclays upgraded ZimVie from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $9.00 to $19.00 in a report on Tuesday, July 22nd. Finally, B. Riley downgraded ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus 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.