ZimVie (NASDAQ:ZIMV) Rating Lowered to Buy at Wall Street Zen

ZimVie (NASDAQ:ZIMV - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Friday.

Other equities research analysts have also recently issued research reports about the company. B. Riley initiated coverage on ZimVie in a report on Thursday, April 10th. They set a "buy" rating and a $16.00 target price on the stock. UBS Group cut their target price on ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ZimVie in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

ZimVie Stock Down 0.2%

NASDAQ ZIMV traded down $0.03 during trading on Friday, reaching $18.73. 2,264,169 shares of the company's stock were exchanged, compared to its average volume of 227,596. The stock has a market cap of $521.63 million, a P/E ratio of 23.75 and a beta of 2.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.48 and a current ratio of 2.14. The company has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $10.90. ZimVie has a 1 year low of $8.15 and a 1 year high of $22.18.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.06. ZimVie had a positive return on equity of 5.53% and a negative net margin of 4.40%. The firm had revenue of $112.00 million during the quarter, compared to the consensus estimate of $113.10 million. On average, equities research analysts anticipate that ZimVie will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On ZimVie

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC raised its holdings in shares of ZimVie by 2,695.9% during the first quarter. AlphaQuest LLC now owns 8,947 shares of the company's stock valued at $97,000 after buying an additional 8,627 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of ZimVie during the first quarter valued at approximately $98,000. Jones Financial Companies Lllp raised its holdings in shares of ZimVie by 9,039.1% during the first quarter. Jones Financial Companies Lllp now owns 12,612 shares of the company's stock valued at $136,000 after buying an additional 12,474 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in ZimVie in the first quarter worth approximately $144,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in ZimVie by 5.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company's stock worth $211,000 after purchasing an additional 836 shares during the period. 95.63% of the stock is currently owned by institutional investors and hedge funds.

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.