ZimVie (NASDAQ:ZIMV) Sees Strong Trading Volume - Time to Buy?

Key Points

• ZimVie Inc. experienced a significant increase in trading volume, with approximately 1.2 million shares traded, marking a 317% rise from the previous session's volume.
• The stock is currently rated as a "Hold" by analysts, with a consensus price target of $17.75, after recent downgrades and upgrades by various firms.
• In its latest quarterly earnings report, ZimVie posted $0.26 EPS, exceeding analyst expectations, as the company reported revenue of $116.66 million.

Shares of ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) saw strong trading volume on Wednesday . 1,233,410 shares changed hands during trading, an increase of 317% from the previous session's volume of 295,634 shares.The stock last traded at $18.86 and had previously closed at $18.94.

Analyst Ratings Changes

A number of research analysts have commented on the company. B. Riley lowered 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, July 31st. Wall Street Zen lowered ZimVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Barclays raised ZimVie from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Finally, UBS Group lowered their price target on ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ZimVie presently has an average rating of "Hold" and an average target price of $17.75.

ZimVie Stock Up 0.2%

The stock's 50-day moving average price is $16.00 and its two-hundred day moving average price is $12.13. The stock has a market capitalization of $532.91 million, a PE ratio of -26.99 and a beta of 2.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 2.37.

ZimVie (NASDAQ:ZIMV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. ZimVie had a positive return on equity of 6.37% and a negative net margin of 4.39%.The business had revenue of $116.66 million during the quarter, compared to analysts' expectations of $112.60 million. As a group, analysts expect that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On ZimVie

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of ZimVie by 10.0% in the first quarter. American Century Companies Inc. now owns 690,675 shares of the company's stock worth $7,459,000 after acquiring an additional 62,625 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of ZimVie in the fourth quarter worth $416,000. Gamco Investors INC. ET AL boosted its stake in ZimVie by 22.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company's stock valued at $6,872,000 after purchasing an additional 117,229 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in ZimVie by 10.5% during the 1st quarter. Russell Investments Group Ltd. now owns 305,431 shares of the company's stock valued at $3,299,000 after purchasing an additional 28,988 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in ZimVie by 1.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,332,890 shares of the company's stock valued at $14,435,000 after purchasing an additional 22,075 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other 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.