Needham & Company LLC Reiterates Buy Rating for ZimVie (NASDAQ:ZIMV)

ZimVie (NASDAQ:ZIMV)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $20.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 9.89% from the stock’s previous close.

Separately, Barclays upped their price target on shares of ZimVie from $13.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, March 5th.

ZimVie Price Performance

Shares of ZIMV opened at $18.20 on Tuesday. ZimVie has a 1-year low of $6.52 and a 1-year high of $20.91. The stock has a market cap of $496.68 million, a PE ratio of -1.30 and a beta of 2.16. The firm has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $16.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.68 and a quick ratio of 2.23.

ZimVie (NASDAQ:ZIMV) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.08 earnings per share for the quarter. ZimVie had a negative net margin of 56.31% and a positive return on equity of 2.01%. The firm had revenue of $118.20 million during the quarter. During the same quarter last year, the firm posted $0.25 EPS. As a group, analysts forecast that ZimVie will post 0.63 EPS for the current year.

Hedge Funds Weigh In On ZimVie

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new position in shares of ZimVie during the 1st quarter worth $2,615,000. EMC Capital Management purchased a new position in ZimVie in the 1st quarter valued at about $228,000. Kennedy Capital Management LLC lifted its holdings in ZimVie by 8.8% in the 1st quarter. Kennedy Capital Management LLC now owns 240,686 shares of the company’s stock valued at $3,969,000 after purchasing an additional 19,386 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ZimVie by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,531 shares of the company’s stock valued at $356,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of ZimVie by 2.0% during the 1st quarter. Gabelli Funds LLC now owns 41,060 shares of the company’s stock worth $677,000 after acquiring an additional 800 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.