ZimVie (NASDAQ:ZIMV) Rating Lowered to "Neutral" at 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 analysts at B. Riley from a "buy" rating to a "neutral" rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $19.00 target price on the stock. B. Riley's target price suggests a potential upside of 1.28% from the company's previous close.

ZIMV has been the topic of several other reports. Wall Street Zen cut shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Needham & Company LLC reissued a "hold" rating on shares of ZimVie in a research note on Wednesday, April 9th. Barclays raised shares of ZimVie from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, UBS Group decreased their target price on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.75.

ZimVie Price Performance

ZimVie stock traded down $0.03 during mid-day trading on Thursday, hitting $18.76. The company's stock had a trading volume of 514,225 shares, compared to its average volume of 1,154,339. The company has a quick ratio of 1.48, a current ratio of 2.37 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $522.47 million, a P/E ratio of -26.80 and a beta of 2.19. ZimVie has a twelve month low of $8.15 and a twelve month high of $19.44. The stock's fifty day moving average price is $11.07 and its two-hundred day moving average price is $11.28.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. The firm had revenue of $116.66 million for the quarter, compared to analysts' expectations of $112.60 million. Research analysts forecast that ZimVie will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On ZimVie

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in ZimVie by 18.7% during the fourth quarter. JPMorgan Chase & Co. now owns 217,773 shares of the company's stock worth $3,038,000 after buying an additional 34,354 shares during the last quarter. LPL Financial LLC bought a new position in ZimVie during the fourth quarter valued at about $993,000. BNP Paribas Financial Markets bought a new position in ZimVie during the fourth quarter valued at about $416,000. Prudential Financial Inc. bought a new position in ZimVie during the fourth quarter valued at about $681,000. Finally, American Century Companies Inc. raised its holdings in ZimVie by 23.9% during the fourth quarter. American Century Companies Inc. now owns 628,050 shares of the company's stock valued at $8,761,000 after buying an additional 121,053 shares in the last quarter. Institutional investors and hedge funds 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.