Renaissance Technologies LLC Cuts Position in ZimVie Inc. (NASDAQ:ZIMV)

Renaissance Technologies LLC lessened its holdings in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,300 shares of the company's stock after selling 32,900 shares during the quarter. Renaissance Technologies LLC owned about 1.29% of ZimVie worth $4,970,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of ZimVie by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 276,443 shares of the company's stock valued at $3,856,000 after buying an additional 4,739 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of ZimVie by 17.8% during the fourth quarter. Wells Fargo & Company MN now owns 17,037 shares of the company's stock worth $238,000 after acquiring an additional 2,569 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of ZimVie during the fourth quarter worth $248,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of ZimVie by 61.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 161,344 shares of the company's stock worth $2,251,000 after acquiring an additional 61,335 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of ZimVie by 18.7% in the fourth quarter. JPMorgan Chase & Co. now owns 217,773 shares of the company's stock valued at $3,038,000 after purchasing an additional 34,354 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

ZimVie Price Performance

Shares of ZIMV stock traded down $0.10 on Friday, reaching $9.33. The company's stock had a trading volume of 13,379 shares, compared to its average volume of 221,655. The company has a market capitalization of $259.67 million, a P/E ratio of -0.71 and a beta of 2.14. ZimVie Inc. has a 12-month low of $8.56 and a 12-month high of $22.40. The stock's 50 day simple moving average is $11.24 and its 200-day simple moving average is $13.11. The company has a quick ratio of 1.38, a current ratio of 1.94 and a debt-to-equity ratio of 0.57.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. ZimVie had a positive return on equity of 2.90% and a negative net margin of 77.31%. The firm had revenue of $111.52 million for the quarter, compared to analysts' expectations of $113.67 million. As a group, equities analysts predict that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZIMV. Needham & Company LLC restated a "hold" rating on shares of ZimVie in a research note on Wednesday, April 9th. B. Riley began coverage on shares of ZimVie in a research report on Thursday, April 10th. They issued a "buy" rating and a $16.00 price objective for the company.

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.