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

Key Points

• ZimVie Inc. reached a new 52-week high of $19.00 in trading, reflecting a significant increase in market activity with a trading volume of 313,527 shares.
• Analysts have mixed views on ZimVie, with Barclays upgrading it to an "equal weight" rating and raising the price target to $19.00, while others have lowered their ratings and targets.
• In its last quarterly report, ZimVie outperformed projections by reporting $0.26 EPS and generating revenue of $116.66 million, exceeding the expected $112.60 million.

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.00 and last traded at $19.00, with a volume of 313527 shares trading hands. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

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

ZimVie Trading Up 0.2%

The firm has a market cap of $535.38 million, a price-to-earnings ratio of -27.12 and a beta of 2.20. The company has a fifty day moving average price of $13.99 and a 200-day moving average price of $11.73. The company has a current ratio of 2.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56.

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, beating analysts' consensus estimates 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 company had revenue of $116.66 million during the quarter, compared to analysts' expectations of $112.60 million. As a group, research analysts expect that ZimVie Inc. will post 0.6 EPS for the current year.

Institutional Trading of ZimVie

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Monarch Capital Management Inc. increased its stake in ZimVie by 15.3% during the 2nd quarter. Monarch Capital Management Inc. now owns 80,374 shares of the company's stock worth $751,000 after buying an additional 10,674 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in ZimVie during the 2nd quarter worth approximately $276,000. Engineers Gate Manager LP purchased a new stake in ZimVie during the 2nd quarter worth approximately $125,000. BNP Paribas Financial Markets increased its stake in ZimVie by 126.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 37,869 shares of the company's stock worth $354,000 after buying an additional 21,137 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in ZimVie during the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 95.63% of the company's stock.

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.

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