ZimVie Inc. (NASDAQ:ZIMV) Sees Large Increase in Short Interest

Key Points

• Short interest in ZimVie Inc. increased by 26.1% in July, totaling 788,000 shares, which reflects a growing bearish sentiment among investors.
• Institutional investors control 95.63% of ZimVie shares, with noticeable increases in stakes from firms like AlphaQuest LLC and Jones Financial Companies.
• Stock analysts have mixed outlooks on ZimVie, with some firms upgrading ratings while others have lowered price targets, leading to an overall average rating of "Hold" and a price target of $17.75.

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 788,000 shares, agrowthof26.1% from the July 15th total of 624,800 shares. Approximately2.9% of the company's shares are sold short. Based on an average daily volume of 489,600 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 489,600 shares, the days-to-cover ratio is currently 1.6 days. Approximately2.9% of the company's shares are sold short.

Analyst Upgrades and Downgrades

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

Institutional Trading of ZimVie

Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in shares of ZimVie by 17.8% in the 4th 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 during the period. Dimensional Fund Advisors LP lifted its stake in shares of ZimVie by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock worth $17,367,000 after acquiring an additional 107,461 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of ZimVie by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,571 shares of the company's stock worth $343,000 after acquiring an additional 1,852 shares during the period. Mill Road Capital Management LLC acquired a new stake in shares of ZimVie in the 4th quarter worth $1,401,000. Finally, Northern Trust Corp lifted its stake in shares of ZimVie by 3.5% in the 4th quarter. Northern Trust Corp now owns 326,252 shares of the company's stock worth $4,551,000 after acquiring an additional 10,988 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

ZimVie Stock Up 0.1%

Shares of ZimVie stock traded up $0.02 during trading hours on Tuesday, hitting $18.98. The company had a trading volume of 149,610 shares, compared to its average volume of 285,924. The company has a market cap of $535.10 million, a P/E ratio of -27.11 and a beta of 2.20. The company's 50-day moving average is $14.19 and its two-hundred day moving average is $11.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.37 and a quick ratio of 1.60. ZimVie has a twelve month low of $8.15 and a twelve month high of $19.00.

ZimVie (NASDAQ:ZIMV - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $116.66 million during the quarter, compared to analysts' expectations of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. Analysts anticipate that ZimVie 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.