Primecap Management Co. CA Sells 5,650 Shares of ZimVie Inc. (NASDAQ:ZIMV)

Primecap Management Co. CA cut its holdings in shares of ZimVie Inc. (NASDAQ:ZIMV) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,860 shares of the company’s stock after selling 5,650 shares during the quarter. Primecap Management Co. CA owned 0.13% of ZimVie worth $636,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ZIMV. American Century Companies Inc. boosted its position in ZimVie by 212.8% during the second quarter. American Century Companies Inc. now owns 412,434 shares of the company’s stock valued at $7,527,000 after buying an additional 280,565 shares during the period. Cetera Advisors LLC bought a new stake in shares of ZimVie in the 1st quarter valued at about $2,615,000. Charles Schwab Investment Management Inc. boosted its holdings in ZimVie by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 761,285 shares of the company’s stock valued at $13,513,000 after acquiring an additional 132,804 shares during the period. Renaissance Technologies LLC grew its position in ZimVie by 26.6% during the 2nd quarter. Renaissance Technologies LLC now owns 406,400 shares of the company’s stock worth $7,417,000 after acquiring an additional 85,300 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in ZimVie in the fourth quarter valued at approximately $988,000. 95.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ZimVie Stock Performance

ZimVie stock opened at $16.47 on Thursday. ZimVie Inc. has a 1-year low of $6.52 and a 1-year high of $22.40. The firm has a market cap of $454.08 million, a P/E ratio of -1.18 and a beta of 2.13. 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 firm has a 50-day moving average of $18.25 and a 200-day moving average of $17.17.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings data 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). ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. The business had revenue of $116.81 million during the quarter. During the same quarter in the prior year, the company posted $0.17 EPS. Sell-side analysts expect that ZimVie Inc. will post 0.63 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Camber Capital Management Lp sold 525,000 shares of ZimVie stock in a transaction dated 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 sale, the insider now owns 2,725,000 shares of the company’s stock, valued at approximately $48,259,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.01% of the company’s stock.

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.