Solas Capital Management LLC Sells 49,220 Shares of ZimVie Inc. $ZIMV

Key Points

• Solas Capital Management LLC reduced its stake in ZimVie Inc. by 12.6%, now holding 340,536 shares worth approximately $3.68 million.
• Analysts have assigned an average rating of "Hold" to ZimVie, with a consensus price target of $17.75.
• ZimVie reported quarterly earnings of $0.26 EPS, exceeding analysts' expectations, and generated revenue of $116.66 million for the quarter.

Solas Capital Management LLC trimmed its position in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,536 shares of the company's stock after selling 49,220 shares during the period. ZimVie makes up about 2.1% of Solas Capital Management LLC's holdings, making the stock its 15th biggest holding. Solas Capital Management LLC owned 1.22% of ZimVie worth $3,678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ZIMV. J. Goldman & Co LP increased its holdings in shares of ZimVie by 167.5% during the 4th quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock worth $19,890,000 after buying an additional 892,785 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of ZimVie by 22.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company's stock worth $6,872,000 after buying an additional 117,229 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ZimVie by 9.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock worth $17,367,000 after buying an additional 107,461 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of ZimVie by 460.8% during the 4th quarter. Ancora Advisors LLC now owns 112,160 shares of the company's stock worth $1,565,000 after buying an additional 92,160 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of ZimVie during the 1st quarter worth $901,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZIMV has been the subject of a number of research reports. Wall Street Zen cut shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. B. Riley lowered shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Thursday, July 31st. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, UBS Group dropped their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $17.75.

ZimVie Stock Down 0.1%

ZIMV stock traded down $0.02 during midday trading on Friday, reaching $18.87. The company had a trading volume of 276,475 shares, compared to its average volume of 328,045. ZimVie Inc. has a 1 year low of $8.15 and a 1 year 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 $532.18 million, a P/E ratio of -26.95 and a beta of 2.19. The company has a 50 day moving average of $15.81 and a two-hundred day moving average of $12.11.

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

ZimVie Company 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.