Russell Investments Group Ltd. Raises Position in ZimVie Inc. $ZIMV

Key Points

• Russell Investments Group Ltd. increased its stake in ZimVie Inc. by 10.5%, now owning approximately 1.1% of the company worth about $3.3 million.
• ZimVie reported earnings of $0.26 per share for the last quarter, surpassing analyst expectations of $0.21, with total revenue of $116.66 million.
• The stock currently has a consensus rating of "Hold" with an average price target of $17.75, following various recent analyst rating changes.

Russell Investments Group Ltd. increased its position in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 305,431 shares of the company's stock after purchasing an additional 28,988 shares during the period. Russell Investments Group Ltd. owned approximately 1.10% of ZimVie worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wealthquest Corp acquired a new stake in ZimVie during the 1st quarter worth approximately $182,000. Wealth Enhancement Advisory Services LLC lifted its holdings in ZimVie by 5.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock worth $211,000 after purchasing an additional 836 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in ZimVie by 17.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,037 shares of the company's stock worth $238,000 after purchasing an additional 2,569 shares during the last quarter. Deutsche Bank AG lifted its holdings in ZimVie by 61.7% during the 4th quarter. Deutsche Bank AG now owns 23,796 shares of the company's stock worth $332,000 after purchasing an additional 9,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in ZimVie by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock worth $343,000 after purchasing an additional 1,852 shares during the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZIMV has been the subject of several research reports. Barclays raised ZimVie from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $9.00 to $19.00 in a report on Tuesday, July 22nd. B. Riley lowered ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research note on Thursday, July 31st. UBS Group lowered their price objective on ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. 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, Based on data from MarketBeat, ZimVie currently has a consensus rating of "Hold" and a consensus target price of $17.75.

ZimVie Price Performance

ZIMV stock traded down $0.02 during midday trading on Friday, reaching $18.88. 300,975 shares of the stock were exchanged, compared to its average volume of 342,760. The stock has a market capitalization of $532.42 million, a PE ratio of -26.97 and a beta of 2.20. ZimVie Inc. has a 52 week low of $8.15 and a 52 week high of $19.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.37 and a quick ratio of 1.60. The company has a fifty day moving average price of $15.01 and a 200 day moving average price of $11.95.

ZimVie (NASDAQ:ZIMV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. The business had revenue of $116.66 million for 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, analysts expect that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

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.