ZimVie (NASDAQ:ZIMV) Shares Gap Down to $20.40

ZimVie Inc. (NASDAQ:ZIMV) gapped down prior to trading on Friday . The stock had previously closed at $20.40, but opened at $18.60. ZimVie shares last traded at $18.91, with a volume of 74,912 shares traded.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their price objective on shares of ZimVie from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday.

ZimVie Trading Down 13.1 %

The business has a 50 day simple moving average of $18.04 and a 200 day simple moving average of $17.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.68 and a quick ratio of 2.23. The company has a market cap of $483.85 million, a price-to-earnings ratio of -1.28 and a beta of 2.17.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $116.81 million for the quarter. ZimVie had a negative net margin of 56.31% and a positive return on equity of 2.01%. During the same quarter last year, the company earned $0.17 EPS. As a group, equities analysts forecast that ZimVie Inc. will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Advisors LLC acquired a new stake in shares of ZimVie during the 1st quarter worth approximately $2,615,000. Charles Schwab Investment Management Inc. increased its stake in ZimVie by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 761,285 shares of the company’s stock worth $13,513,000 after purchasing an additional 132,804 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of ZimVie by 73.1% in the fourth quarter. First Eagle Investment Management LLC now owns 294,673 shares of the company’s stock valued at $5,230,000 after buying an additional 124,487 shares during the period. Russell Investments Group Ltd. raised its stake in shares of ZimVie by 60.4% in the 4th quarter. Russell Investments Group Ltd. now owns 279,413 shares of the company’s stock valued at $4,960,000 after purchasing an additional 105,256 shares during the period. Finally, CenterBook Partners LP acquired a new stake in ZimVie in the 4th quarter valued at approximately $988,000. Institutional investors and hedge funds 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.