Strs Ohio Purchases New Stake in ZimVie Inc. $ZIMV

Key Points

• Strs Ohio has acquired a new stake in ZimVie Inc. (NASDAQ: ZIMV), purchasing 35,900 shares valued at approximately $388,000, marking their ownership at 0.13% as reported in their latest SEC filing.
• During the first quarter, other hedge funds made significant moves with ZimVie, including AlphaQuest LLC increasing its holdings by 2,695.9% and Jones Financial Companies Lllp increasing by 9,039.1%.
• Analyst sentiment for ZimVie is mixed, with B. Riley downgrading the stock to a "neutral" rating and a consensus rating of "Hold" across four analysts, indicating caution amidst a current stock price of around $18.88.

Strs Ohio purchased a new stake in ZimVie Inc. (NASDAQ:ZIMV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,900 shares of the company's stock, valued at approximately $388,000. Strs Ohio owned 0.13% of ZimVie as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in ZimVie by 2,695.9% in the first quarter. AlphaQuest LLC now owns 8,947 shares of the company's stock valued at $97,000 after buying an additional 8,627 shares during the period. Quantbot Technologies LP acquired a new stake in ZimVie in the first quarter valued at approximately $98,000. Jones Financial Companies Lllp grew its position in ZimVie by 9,039.1% in the first quarter. Jones Financial Companies Lllp now owns 12,612 shares of the company's stock valued at $136,000 after acquiring an additional 12,474 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in ZimVie in the first quarter valued at approximately $144,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in ZimVie by 5.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock valued at $211,000 after acquiring an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ZIMV. B. Riley downgraded shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Barclays raised shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.75.

ZimVie Stock Down 0.2%

ZIMV stock opened at $18.88 on Tuesday. ZimVie Inc. has a twelve month low of $8.15 and a twelve month high of $19.01. 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 capitalization of $532.60 million, a P/E ratio of -26.97 and a beta of 2.20. The firm has a 50 day simple moving average of $18.05 and a 200-day simple moving average of $12.57.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. The firm had revenue of $116.66 million during the quarter, compared to the consensus estimate of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. On average, equities research analysts predict that ZimVie Inc. will post 0.6 earnings per share 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.

Want to see what other hedge funds are holding ZIMV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ZimVie Inc. (NASDAQ:ZIMV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.