Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Rises By 26.1%

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 significant increase in short interest in July. As of July 31st, there was short interest totaling 788,000 shares, anincreaseof26.1% from the July 15th total of 624,800 shares. Based on an average daily volume of 489,600 shares, the days-to-cover ratio is presently 1.6 days. Currently,2.9% of the company's stock are sold short. Currently,2.9% of the company's stock are sold short. Based on an average daily volume of 489,600 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

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

ZimVie Stock Performance

ZIMV stock traded up $0.02 during trading on Friday, reaching $18.95. The company had a trading volume of 313,527 shares, compared to its average volume of 551,395. The company has a market cap of $534.39 million, a price-to-earnings ratio of -27.07 and a beta of 2.20. ZimVie has a twelve month low of $8.15 and a twelve month high of $19.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 2.37. The firm has a 50-day simple moving average of $13.99 and a 200-day simple moving average of $11.75.

ZimVie (NASDAQ:ZIMV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. The business had revenue of $116.66 million for the quarter, compared to analyst estimates of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. As a group, sell-side analysts expect that ZimVie will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On ZimVie

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Monarch Capital Management Inc. lifted its position in ZimVie by 15.3% during the 2nd quarter. Monarch Capital Management Inc. now owns 80,374 shares of the company's stock worth $751,000 after acquiring an additional 10,674 shares during the period. Corient Private Wealth LLC purchased a new position in shares of ZimVie in the second quarter worth about $276,000. Engineers Gate Manager LP purchased a new position in shares of ZimVie in the second quarter worth about $125,000. BNP Paribas Financial Markets lifted its holdings in shares of ZimVie by 126.3% during the second quarter. BNP Paribas Financial Markets now owns 37,869 shares of the company's stock worth $354,000 after purchasing an additional 21,137 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in ZimVie in the second quarter valued at approximately $102,000. Hedge funds and other institutional investors own 95.63% of the company's stock.

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.