Cetera Investment Advisers Trims Stock Position in ZimVie Inc. (NASDAQ:ZIMV)

Cetera Investment Advisers decreased its stake in ZimVie Inc. (NASDAQ:ZIMV) by 20.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,256 shares of the company’s stock after selling 31,727 shares during the quarter. Cetera Investment Advisers owned approximately 0.46% of ZimVie worth $2,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truist Financial Corp acquired a new stake in shares of ZimVie during the 2nd quarter worth approximately $411,000. Point72 Asset Management L.P. acquired a new stake in ZimVie during the second quarter valued at $3,993,000. Quarry LP increased its holdings in ZimVie by 337.8% in the second quarter. Quarry LP now owns 1,655 shares of the company’s stock valued at $30,000 after buying an additional 1,277 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of ZimVie in the second quarter worth about $1,692,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of ZimVie during the 2nd quarter worth about $191,000. 95.63% of the stock is owned by institutional investors and hedge funds.

ZimVie Stock Performance

NASDAQ:ZIMV opened at $16.00 on Friday. The company has a fifty day moving average of $16.66 and a two-hundred day moving average of $17.07. ZimVie Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $22.40. The stock has a market capitalization of $441.12 million, a PE ratio of -1.21 and a beta of 2.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.43 and a current ratio of 1.94.

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). ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.21%. The company had revenue of $116.81 million during the quarter. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, research analysts forecast that ZimVie Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at ZimVie

In other ZimVie news, major shareholder Camber Capital Management Lp sold 525,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.71, for a total value of $9,297,750.00. Following the transaction, the insider now owns 2,725,000 shares in the company, valued at approximately $48,259,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.01% of the company’s stock.

Analyst Ratings Changes

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

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.