ZimVie Inc. (NASDAQ:ZIMV) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,966 shares of the company's stock after selling 92,423 shares during the quarter. Millennium Management LLC owned about 2.38% of ZimVie worth $9,165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. J. Goldman & Co LP boosted its holdings in ZimVie by 167.5% in the fourth quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock valued at $19,890,000 after purchasing an additional 892,785 shares in the last quarter. Forest Hill Capital LLC boosted its holdings in shares of ZimVie by 25.9% in the fourth quarter. Forest Hill Capital LLC now owns 172,809 shares of the company's stock valued at $2,411,000 after acquiring an additional 35,500 shares during the period. Deutsche Bank AG boosted its holdings in shares of ZimVie by 61.7% in the fourth quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock valued at $332,000 after acquiring an additional 9,084 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of ZimVie by 12.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 301,316 shares of the company's stock valued at $4,203,000 after acquiring an additional 32,551 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of ZimVie in the fourth quarter valued at approximately $418,000. 95.63% of the stock is owned by institutional investors and hedge funds.

ZimVie Stock Performance

ZimVie stock traded up $0.02 during trading hours on Wednesday, reaching $8.80. 206,571 shares of the stock were exchanged, compared to its average volume of 212,157. The stock has a market cap of $245.05 million, a P/E ratio of -0.67 and a beta of 2.16. The firm's 50 day moving average is $9.45 and its 200 day moving average is $12.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.38 and a current ratio of 1.94. ZimVie Inc. has a 52-week low of $8.15 and a 52-week high of $22.40.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. ZimVie had a positive return on equity of 2.90% and a negative net margin of 77.31%. The business had revenue of $112.00 million during the quarter, compared to analysts' expectations of $113.10 million. Analysts predict that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

ZIMV has been the subject of several research analyst reports. B. Riley initiated coverage on ZimVie in a report on Thursday, April 10th. They issued a "buy" rating and a $16.00 price objective for the company. UBS Group decreased their price objective on ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ZimVie in a report on Wednesday, April 9th.

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.