Jacobs Levy Equity Management Inc. Reduces 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. lowered its stake in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 54.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 149,776 shares of the company's stock after selling 182,406 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.54% of ZimVie worth $1,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Neuberger Berman Group LLC increased its stake in shares of ZimVie by 1.7% in the 1st quarter. Neuberger Berman Group LLC now owns 1,332,890 shares of the company's stock valued at $14,435,000 after purchasing an additional 22,075 shares in the last quarter. American Century Companies Inc. increased its stake in shares of ZimVie by 10.0% in the 1st quarter. American Century Companies Inc. now owns 690,675 shares of the company's stock valued at $7,459,000 after purchasing an additional 62,625 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of ZimVie by 22.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company's stock valued at $6,872,000 after purchasing an additional 117,229 shares in the last quarter. Northern Trust Corp increased its stake in shares of ZimVie by 3.5% in the 4th quarter. Northern Trust Corp now owns 326,252 shares of the company's stock valued at $4,551,000 after purchasing an additional 10,988 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of ZimVie by 10.5% in the 1st quarter. Russell Investments Group Ltd. now owns 305,431 shares of the company's stock valued at $3,299,000 after purchasing an additional 28,988 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

ZimVie Price Performance

NASDAQ:ZIMV traded down $0.01 during trading hours on Friday, hitting $18.87. 490,994 shares of the stock were exchanged, compared to its average volume of 641,887. ZimVie Inc. has a 52-week low of $8.15 and a 52-week high of $19.01. The firm's fifty day moving average price is $16.90 and its 200 day moving average price is $12.34. The company has a current ratio of 2.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. The company has a market cap of $532.32 million, a P/E ratio of -26.96 and a beta of 2.19.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted 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 analyst estimates 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 research analysts anticipate that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZIMV has been the subject of several recent analyst reports. B. Riley lowered ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research note on Thursday, July 31st. Barclays upgraded ZimVie from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.75.

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.