Neuberger Berman Group LLC Boosts Stock Holdings in ZimVie Inc. $ZIMV

Key Points

• Neuberger Berman Group LLC increased its stake in ZimVie Inc. by 1.7%, owning approximately 4.79% of the company with 1,332,890 shares valued at $14.4 million.
• ZimVie reported quarterly earnings of $0.26 per share, surpassing analyst expectations, while its revenue reached $116.66 million against a consensus estimate of $112.60 million.
• Recent analyst ratings for ZimVie include a downgrade from UBS Group, while Barclays upgraded the stock from "underweight" to "equal weight" with a target price increase to $19.00.

Neuberger Berman Group LLC boosted its stake in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,332,890 shares of the company's stock after purchasing an additional 22,075 shares during the period. Neuberger Berman Group LLC owned about 4.79% of ZimVie worth $14,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZIMV. J. Goldman & Co LP lifted its position in ZimVie by 167.5% during 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 during the period. Dimensional Fund Advisors LP raised its position in ZimVie by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock worth $17,367,000 after acquiring an additional 107,461 shares during the period. Mill Road Capital Management LLC bought a new position in ZimVie in the fourth quarter worth approximately $1,401,000. Ancora Advisors LLC raised its position in ZimVie by 460.8% in the fourth quarter. Ancora Advisors LLC now owns 112,160 shares of the company's stock worth $1,565,000 after acquiring an additional 92,160 shares during the period. Finally, Nuveen LLC bought a new position in ZimVie in the first quarter worth approximately $901,000. Institutional investors own 95.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZIMV. B. Riley downgraded shares of 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. UBS Group decreased their price target on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $17.75.

ZimVie Price Performance

Shares of NASDAQ ZIMV traded up $0.01 during midday trading on Wednesday, reaching $18.96. The stock had a trading volume of 280,035 shares, compared to its average volume of 663,430. The stock has a 50-day moving average of $13.60 and a 200-day moving average of $11.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 2.37. The company has a market capitalization of $534.67 million, a price-to-earnings ratio of -27.09 and a beta of 2.20. ZimVie Inc. has a 12-month low of $8.15 and a 12-month high of $18.98.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $116.66 million during the quarter, compared to analysts' expectations of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. As a group, research analysts anticipate that ZimVie Inc. will post 0.6 EPS for the current fiscal 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.