ZimVie (NASDAQ:ZIMV) Posts Earnings Results

Key Points

• ZimVie reported a quarterly earnings per share (EPS) of $0.26, with a negative net margin of 4.40% and a positive return on equity of 5.53%.
• The company's stock price rose 0.4% to $18.88 during midday trading, with a market cap of $525.81 million.
• Analysts have mixed ratings on ZimVie, with an average price target of $17.00 and a consensus rating of "Moderate Buy".

ZimVie (NASDAQ:ZIMV - Get Free Report) posted its earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.44%. The firm had revenue of $116.66 million during the quarter, compared to analyst estimates of $112.60 million.

ZimVie Price Performance

Shares of ZIMV traded down $0.03 during midday trading on Friday, reaching $18.76. The stock had a trading volume of 514,225 shares, compared to its average volume of 282,864. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.14 and a quick ratio of 1.48. The company has a market capitalization of $522.41 million, a P/E ratio of -26.80 and a beta of 2.07. The firm's 50 day moving average price is $10.86 and its 200-day moving average price is $11.25. ZimVie has a 52 week low of $8.15 and a 52 week high of $19.44.

Analyst Upgrades and Downgrades

ZIMV has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of ZimVie in a report on Wednesday, April 9th. Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group lowered their price target on ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, B. Riley lowered shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.75.

Institutional Investors Weigh In On ZimVie

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of ZimVie by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 133,611 shares of the company's stock worth $1,443,000 after purchasing an additional 3,043 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in ZimVie by 9,039.1% during the first quarter. Jones Financial Companies Lllp now owns 12,612 shares of the company's stock worth $136,000 after buying an additional 12,474 shares in the last quarter. Jane Street Group LLC grew its position in ZimVie by 69.6% in the first quarter. Jane Street Group LLC now owns 32,031 shares of the company's stock worth $346,000 after buying an additional 13,150 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of ZimVie by 53.4% in the first quarter. AQR Capital Management LLC now owns 103,820 shares of the company's stock valued at $1,115,000 after buying an additional 36,132 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of ZimVie by 7.7% during the 1st quarter. Millennium Management LLC now owns 707,771 shares of the company's stock valued at $7,644,000 after acquiring an additional 50,805 shares during the last quarter. 95.63% of the stock is 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.