LSV Asset Management Reduces Position in ZimVie Inc. (NASDAQ:ZIMV)

LSV Asset Management cut its position in ZimVie Inc. (NASDAQ:ZIMV) by 94.6% during the second quarter, HoldingsChannel reports. The firm owned 33,100 shares of the company’s stock after selling 577,206 shares during the quarter. LSV Asset Management’s holdings in ZimVie were worth $604,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ZIMV. Scarborough Advisors LLC purchased a new stake in shares of ZimVie in the 4th quarter valued at approximately $28,000. Summit Securities Group LLC increased its position in shares of ZimVie by 518.6% in the 2nd quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock valued at $55,000 after purchasing an additional 2,515 shares during the last quarter. Heritage Wealth Advisors increased its position in shares of ZimVie by 172,750.0% in the 1st quarter. Heritage Wealth Advisors now owns 6,914 shares of the company’s stock valued at $114,000 after purchasing an additional 6,910 shares during the last quarter. EMC Capital Management acquired a new position in shares of ZimVie in the 1st quarter valued at $228,000. Finally, Boston Partners acquired a new position in shares of ZimVie in the 4th quarter valued at $310,000. 95.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their target price on shares of ZimVie from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

ZimVie Trading Up 0.3 %

Shares of ZimVie stock opened at $16.24 on Friday. The company has a fifty day simple moving average of $18.34 and a 200-day simple moving average of $17.23. ZimVie Inc. has a 12-month low of $6.52 and a 12-month high of $22.40. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.62. The stock has a market cap of $443.17 million, a price-to-earnings ratio of -1.16 and a beta of 2.14.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The business had revenue of $116.81 million for the quarter. ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts forecast that ZimVie Inc. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Camber Capital Management Lp sold 525,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.71, for a total transaction of $9,297,750.00. Following the completion of the sale, the insider now owns 2,725,000 shares in the company, valued at approximately $48,259,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.01% of the stock is owned by company insiders.

ZimVie 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.