ZimVie (NASDAQ:ZIMV) Hits New 52-Week High - Here's What Happened

Key Points

• ZimVie Inc. reached a new 52-week high, trading at $19.01 before closing at $18.94 with a volume of 712,684 shares.
• Analysts have provided mixed ratings, with UBS Group lowering their target from $16 to $10, while Barclays upgraded their rating and target price from $9 to $19.
• Institutional investors hold a significant share of the company, with hedge funds owning approximately 95.63% of ZimVie's stock.

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $19.01 and last traded at $18.94, with a volume of 712684 shares. The stock had previously closed at $18.88.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZIMV. B. Riley cut shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Thursday, July 31st. UBS Group lowered their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Barclays upgraded shares of ZimVie from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $9.00 to $19.00 in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.75.

ZimVie Price Performance

The firm has a market cap of $531.90 million, a P/E ratio of -26.94 and a beta of 2.19. The company has a quick ratio of 1.60, a current ratio of 2.37 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average is $15.81 and its 200-day moving average is $12.11.

ZimVie (NASDAQ:ZIMV - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The business 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 6.37%. As a group, equities analysts anticipate that ZimVie Inc. will post 0.6 EPS for the current fiscal year.

Institutional Trading of ZimVie

Several hedge funds and other institutional investors have recently bought and sold shares of the company. J. Goldman & Co LP grew its stake in ZimVie by 167.5% in the fourth quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company's stock valued at $19,890,000 after purchasing an additional 892,785 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of ZimVie by 1.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,332,890 shares of the company's stock worth $14,435,000 after purchasing an additional 22,075 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ZimVie by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,244,938 shares of the company's stock valued at $17,367,000 after purchasing an additional 107,461 shares in the last quarter. American Century Companies Inc. increased its position in ZimVie by 11.6% during the 2nd quarter. American Century Companies Inc. now owns 770,759 shares of the company's stock worth $7,207,000 after purchasing an additional 80,084 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of ZimVie by 20.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 764,250 shares of the company's stock valued at $7,146,000 after acquiring an additional 127,909 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

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.