Millennium Management LLC Reduces Stock Position in ZimVie Inc. (NASDAQ:ZIMV)

Millennium Management LLC reduced its position in ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J. Goldman & Co LP increased its stake in shares of ZimVie by 167.5% in the 4th quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock worth $19,890,000 after acquiring an additional 892,785 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ZimVie by 9.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock worth $17,367,000 after purchasing an additional 107,461 shares during the last quarter. American Century Companies Inc. raised its stake in ZimVie by 23.9% during the fourth quarter. American Century Companies Inc. now owns 628,050 shares of the company's stock worth $8,761,000 after purchasing an additional 121,053 shares during the period. Gamco Investors INC. ET AL lifted its holdings in ZimVie by 15.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 519,112 shares of the company's stock valued at $7,242,000 after acquiring an additional 68,176 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of ZimVie by 3.5% during the 4th quarter. Northern Trust Corp now owns 326,252 shares of the company's stock worth $4,551,000 after purchasing an additional 10,988 shares during the period. Hedge funds and other institutional investors own 95.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ZIMV. Needham & Company LLC restated a "hold" rating on shares of ZimVie in a report on Wednesday, April 9th. B. Riley assumed coverage on ZimVie in a research report on Thursday, April 10th. They issued a "buy" rating and a $16.00 target price for the company. Finally, UBS Group lowered their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th.

ZimVie Stock Up 0.2%

NASDAQ ZIMV traded up $0.02 during trading hours on Friday, hitting $8.99. 9,873 shares of the company were exchanged, compared to its average volume of 211,841. The company has a quick ratio of 1.38, a current ratio of 1.94 and a debt-to-equity ratio of 0.57. The firm has a market cap of $250.34 million, a price-to-earnings ratio of -0.69 and a beta of 2.16. The company has a 50 day moving average of $9.35 and a two-hundred day moving average of $12.13. 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, topping the consensus estimate of $0.21 by $0.06. ZimVie had a negative net margin of 77.31% and a positive return on equity of 2.90%. The company had revenue of $112.00 million during the quarter, compared to analysts' expectations of $113.10 million. Equities research analysts anticipate that ZimVie Inc. will post 0.6 earnings per share for the current year.

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.