Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Declines By 42.7%

Key Points

• Short interest in ZimVie Inc. decreased by 42.7% in September, with a current total of 425,700 shares short sold, representing 1.6% of the company's stock.
• ZimVie reported $0.26 earnings per share for the last quarter, exceeding consensus estimates and indicating a positive return on equity of 6.37% despite a negative net margin.
• A number of analysts have recently adjusted their ratings on ZimVie, with B. Riley lowering the stock to a "neutral" rating and Barclays upgrading it to "equal weight" with a price target raised to $19.00.

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 425,700 shares, a decrease of 42.7% from the August 31st total of 743,100 shares. Currently, 1.6% of the company's stock are short sold. Based on an average trading volume of 671,300 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 671,300 shares, the short-interest ratio is currently 0.6 days. Currently, 1.6% of the company's stock are short sold.

ZimVie Price Performance

Shares of NASDAQ:ZIMV opened at $18.94 on Friday. The business has a 50 day moving average price of $18.88 and a 200 day moving average price of $12.98. ZimVie has a twelve month low of $8.15 and a twelve month high of $19.01. The company has a market cap of $534.30 million, a price-to-earnings ratio of -27.06 and a beta of 2.17. The company has a quick ratio of 1.60, a current ratio of 2.37 and a debt-to-equity ratio of 0.56.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced 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. ZimVie had a positive return on equity of 6.37% and a negative net margin of 4.39%.The firm had revenue of $116.66 million during the quarter, compared to the consensus estimate of $112.60 million. Research analysts predict that ZimVie will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. B. Riley lowered ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a report on Thursday, July 31st. Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Barclays raised 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 report on Tuesday, July 22nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of ZimVie in a report on Saturday, September 27th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ZimVie currently has an average rating of "Reduce" and an average target price of $17.75.

Institutional Trading of ZimVie

A number of hedge funds have recently modified their holdings of ZIMV. Wealth Enhancement Advisory Services LLC lifted its position in shares of ZimVie by 5.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock worth $211,000 after acquiring an additional 836 shares during the period. Monarch Capital Management Inc. lifted its position in shares of ZimVie by 6.3% in the 1st quarter. Monarch Capital Management Inc. now owns 69,700 shares of the company's stock worth $753,000 after acquiring an additional 4,140 shares during the period. Wealthquest Corp bought a new stake in shares of ZimVie in the 1st quarter worth approximately $182,000. Nuveen LLC bought a new stake in shares of ZimVie in the 1st quarter worth approximately $901,000. Finally, Russell Investments Group Ltd. lifted its position in shares of ZimVie by 10.5% in the 1st quarter. Russell Investments Group Ltd. now owns 305,431 shares of the company's stock worth $3,299,000 after acquiring an additional 28,988 shares during the period. Institutional investors own 95.63% of the company's stock.

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.

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.