ZimVie (NASDAQ:ZIMV) Issues 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) issued its earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $116.66 million for the quarter, compared to analysts' expectations of $112.60 million. ZimVie had a positive return on equity of 6.37% and a negative net margin of 4.39%.

ZimVie Stock Down 0.2%

ZIMV traded down $0.03 during trading on Friday, reaching $18.76. 514,225 shares of the stock traded hands, compared to its average volume of 1,154,339. The stock's 50-day simple moving average is $11.07 and its two-hundred day simple moving average is $11.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.37 and a quick ratio of 1.48. ZimVie has a fifty-two week low of $8.15 and a fifty-two week high of $19.44. The stock has a market cap of $522.47 million, a price-to-earnings ratio of -26.80 and a beta of 2.19.

Institutional Investors Weigh In On ZimVie

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position 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 purchasing an additional 12,474 shares during the period. Jane Street Group LLC lifted its position in shares of ZimVie by 69.6% in the 1st quarter. Jane Street Group LLC now owns 32,031 shares of the company's stock worth $346,000 after acquiring an additional 13,150 shares during the period. AQR Capital Management LLC increased its holdings in ZimVie by 53.4% in the 1st 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 during the period. Goldman Sachs Group Inc. boosted its holdings in ZimVie by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 133,611 shares of the company's stock valued at $1,443,000 after purchasing an additional 3,043 shares in the last quarter. Finally, Millennium Management LLC grew its position in ZimVie by 7.7% in the first 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 period. 95.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. 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 report on Thursday, May 15th. Barclays raised shares of ZimVie from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. B. Riley downgraded shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ZimVie in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.75.

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.