ZimVie (NASDAQ:ZIMV) Sets New 12-Month High - What's Next?

Key Points

• ZimVie Inc. (NASDAQ:ZIMV) shares reached a new 52-week high, trading at $18.98 during mid-day on Monday, with a total volume of 230,186 shares.
• Analysts have provided mixed ratings, with UBS cutting its price target from $16.00 to $10.00 and several others adjusting ratings, leaving the average price target at $17.75.
• The company reported quarterly earnings of $0.26 per share, exceeding the consensus estimate of $0.21, along with revenue of $116.66 million, surpassing expectations.

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.98 and last traded at $18.97, with a volume of 230186 shares trading hands. The stock had previously closed at $18.85.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZIMV shares. UBS Group cut their price target 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. Wall Street Zen cut shares of ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. B. Riley cut shares of ZimVie from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research report on Thursday, July 31st. Finally, Barclays raised shares of ZimVie from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, ZimVie presently has an average rating of "Hold" and a consensus price target of $17.75.

ZimVie Trading Up 0.5%

The stock has a market cap of $534.39 million, a P/E ratio of -27.07 and a beta of 2.20. 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 firm's 50 day simple moving average is $13.04 and its two-hundred day simple moving average is $11.56.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted 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. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. The business had revenue of $116.66 million during the quarter, compared to the consensus estimate of $112.60 million. As a group, equities research analysts predict that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ZimVie

Institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC acquired a new stake in ZimVie during the 2nd quarter worth about $276,000. Engineers Gate Manager LP acquired a new position in shares of ZimVie in the 2nd quarter valued at about $125,000. BNP Paribas Financial Markets increased its holdings in shares of ZimVie by 126.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 37,869 shares of the company's stock valued at $354,000 after purchasing an additional 21,137 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of ZimVie in the 2nd quarter valued at about $102,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of ZimVie by 41.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 48,955 shares of the company's stock valued at $458,000 after purchasing an additional 14,284 shares during the period. 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.

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