ZimVie (NASDAQ:ZIMV) Stock Price Down 1.4% - Time to Sell?

ZimVie Inc. (NASDAQ:ZIMV - Get Free Report) shares were down 1.4% on Wednesday . The company traded as low as $8.34 and last traded at $8.72. Approximately 218,065 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 187,174 shares. The stock had previously closed at $8.84.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZIMV shares. B. Riley started coverage on shares of ZimVie in a research note on Thursday, April 10th. They issued a "buy" rating and a $16.00 price target on the stock. Wall Street Zen raised shares of ZimVie from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. UBS Group cut their price objective on shares of ZimVie from $16.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Finally, Needham & Company LLC restated a "hold" rating on shares of ZimVie in a report on Wednesday, April 9th.

ZimVie Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.14 and a quick ratio of 1.48. The company's 50-day simple moving average is $9.07 and its 200-day simple moving average is $11.01. The stock has a market capitalization of $242.85 million, a P/E ratio of -12.28 and a beta of 2.07.

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

Hedge Funds Weigh In On ZimVie

Large investors have recently modified their holdings of the stock. AlphaQuest LLC grew its stake in shares of ZimVie by 2,695.9% in the first quarter. AlphaQuest LLC now owns 8,947 shares of the company's stock valued at $97,000 after acquiring an additional 8,627 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of ZimVie in the first quarter valued at about $98,000. Jones Financial Companies Lllp grew its stake in shares of ZimVie by 9,039.1% in the first quarter. Jones Financial Companies Lllp now owns 12,612 shares of the company's stock valued at $136,000 after acquiring an additional 12,474 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of ZimVie in the first quarter valued at about $144,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in ZimVie by 8.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,808 shares of the company's stock worth $162,000 after buying an additional 1,194 shares in the last quarter. 95.63% of the stock is owned by institutional investors.

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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