ZimVie (NASDAQ:ZIMV) Stock Rating Lowered by B. Riley

Key Points

• ZimVie has been downgraded by B. Riley from a "buy" to a "neutral" rating, with a new price target set at $19.00, indicating a potential upside of just 0.64% from its previous close.
• Research firms like UBS Group have also recently adjusted their price targets for ZimVie, lowering it from $16.00 to $10.00, while Barclays raised it from $9.00 to $19.00.
• The stock currently has an average rating of "Hold" with four analysts maintaining this view and one analyst assigning a buy rating.

ZimVie (NASDAQ:ZIMV - Get Free Report) was downgraded by investment analysts at B. Riley from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $19.00 price target on the stock. B. Riley's price target points to a potential upside of 1.25% from the stock's previous close.

A number of other research firms also recently weighed in on ZIMV. 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. UBS Group decreased their target price on ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of ZimVie in a research report on Wednesday, April 9th. Finally, Wall Street Zen cut ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.75.

ZimVie Stock Up 0.0%

Shares of NASDAQ ZIMV traded up $0.01 during trading hours on Thursday, hitting $18.77. The company had a trading volume of 207,826 shares, compared to its average volume of 282,243. The stock has a market capitalization of $529.17 million, a P/E ratio of -26.81 and a beta of 2.20. 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 has a 1-year low of $8.15 and a 1-year high of $18.98. The firm's 50 day moving average is $11.07 and its 200-day moving average is $11.25.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, topping 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 business had revenue of $116.66 million during the quarter, compared to analysts' expectations of $112.60 million. On average, analysts expect that ZimVie will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZIMV. American Century Companies Inc. lifted its stake in ZimVie by 23.9% in the fourth quarter. American Century Companies Inc. now owns 628,050 shares of the company's stock valued at $8,761,000 after purchasing an additional 121,053 shares during the last quarter. LPL Financial LLC purchased a new stake in ZimVie in the fourth quarter valued at approximately $993,000. Prudential Financial Inc. purchased a new stake in ZimVie in the fourth quarter valued at approximately $681,000. JPMorgan Chase & Co. raised its position in shares of ZimVie by 18.7% during the 4th quarter. JPMorgan Chase & Co. now owns 217,773 shares of the company's stock valued at $3,038,000 after buying an additional 34,354 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of ZimVie by 61.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 161,344 shares of the company's stock valued at $2,251,000 after buying an additional 61,335 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

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.