ZimVie (NASDAQ:ZIMV) Shares Gap Up - Still a Buy?

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $8.44, but opened at $18.75. ZimVie shares last traded at $18.77, with a volume of 3,806,612 shares changing hands.

Wall Street Analyst Weigh In

ZIMV has been the topic of a number of analyst reports. B. Riley began coverage on shares of ZimVie in a report on Thursday, April 10th. They issued a "buy" rating and a $16.00 target price on the stock. Wall Street Zen downgraded ZimVie from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of ZimVie in a report on Wednesday, April 9th. UBS Group reduced 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. Finally, Barclays upgraded ZimVie from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $9.00 to $19.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.00.

ZimVie Trading Down 0.3%

The firm has a fifty day simple moving average of $9.45 and a two-hundred day simple moving average of $10.98. The firm has a market capitalization of $521.44 million, a P/E ratio of -26.37 and a beta of 2.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.14 and a quick ratio of 1.48.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.06. ZimVie had a positive return on equity of 5.53% and a negative net margin of 4.40%. The firm had revenue of $112.00 million during the quarter, compared to analyst estimates of $113.10 million. On average, equities research analysts anticipate that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZimVie

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ZimVie by 8.2% in 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 period. Goldman Sachs Group Inc. boosted its stake in ZimVie by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 133,611 shares of the company's stock valued at $1,443,000 after buying an additional 3,043 shares during the period. Strs Ohio bought a new stake in ZimVie during the first quarter valued at $388,000. Jane Street Group LLC boosted its stake in ZimVie by 69.6% during the first quarter. Jane Street Group LLC now owns 32,031 shares of the company's stock valued at $346,000 after buying an additional 13,150 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in ZimVie by 9,039.1% during the first quarter. Jones Financial Companies Lllp now owns 12,612 shares of the company's stock valued at $136,000 after buying an additional 12,474 shares during the period. 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.