ZimVie Inc. (NASDAQ:ZIMV) Sees Significant Decline in Short Interest

ZimVie Inc. (NASDAQ:ZIMV) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 550,900 shares, a decline of 18.5% from the August 31st total of 676,100 shares. Based on an average trading volume of 398,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their price objective on ZimVie from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Insider Buying and Selling at ZimVie

In other news, major shareholder Camber Capital Management Lp sold 525,000 shares of the firm’s stock in a transaction that occurred 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 is available at the SEC website. Corporate insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On ZimVie

Several hedge funds have recently bought and sold shares of ZIMV. Scarborough Advisors LLC bought a new position in ZimVie in the 4th quarter valued at $28,000. Quarry LP raised its position in shares of ZimVie by 337.8% in the second quarter. Quarry LP now owns 1,655 shares of the company’s stock worth $30,000 after buying an additional 1,277 shares in the last quarter. Summit Securities Group LLC boosted its stake in ZimVie by 518.6% during the second quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock valued at $55,000 after buying an additional 2,515 shares during the period. Heritage Wealth Advisors grew its position in ZimVie by 172,750.0% during the first quarter. Heritage Wealth Advisors now owns 6,914 shares of the company’s stock worth $114,000 after buying an additional 6,910 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in ZimVie in the 2nd quarter worth about $191,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

ZimVie Trading Up 1.0 %

NASDAQ:ZIMV opened at $15.59 on Friday. ZimVie has a 1 year low of $6.52 and a 1 year high of $22.40. The stock’s fifty day moving average price is $17.83 and its two-hundred day moving average price is $17.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.94 and a quick ratio of 1.43. The company has a market cap of $429.82 million, a P/E ratio of -1.12 and a beta of 2.13.

ZimVie (NASDAQ:ZIMV) last issued its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. The company had revenue of $116.81 million during the quarter. During the same period in the prior year, the company posted $0.17 EPS. As a group, analysts expect that ZimVie will post 0.63 EPS for the current year.

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.