ZimVie (NASDAQ:ZIMV) Sees Large Volume Increase - Still a Buy?

Key Points

• ZimVie Inc. experienced a significant increase in trading volume with 713,758 shares traded, marking a 182% rise from the previous session.
• Analysts have mixed ratings on ZimVie, with price targets varying from a low of $10.00 to a high of $19.00, and an overall average price target of $17.00.
• The company's last quarterly earnings report indicated an EPS of $0.27, exceeding estimates, but they reported a revenue slightly below consensus expectations.

Shares of ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 713,758 shares traded hands during mid-day trading, an increase of 182% from the previous session's volume of 252,815 shares.The stock last traded at $18.77 and had previously closed at $18.72.

Analysts Set New Price Targets

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

ZimVie Price Performance

The stock has a market cap of $522.41 million, a P/E ratio of -26.80 and a beta of 2.07. The company has a current ratio of 2.14, a quick ratio of 1.48 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $10.86 and its 200-day simple moving average is $11.25.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $116.66 million for the quarter, compared to analyst estimates of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.44%. As a group, sell-side analysts forecast that ZimVie Inc. will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC lifted its holdings in shares of ZimVie by 34.6% during the second quarter. AlphaQuest LLC now owns 12,042 shares of the company's stock valued at $113,000 after acquiring an additional 3,095 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of ZimVie by 8.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,808 shares of the company's stock worth $162,000 after acquiring an additional 1,194 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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. Strs Ohio bought a new position in shares of ZimVie in the 1st quarter worth $388,000. Finally, Jane Street Group LLC boosted 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 purchasing an additional 13,150 shares during the last quarter. 95.63% of the stock is owned by institutional investors.

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.