ZimVie’s (ZIMV) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of ZimVie (NASDAQ:ZIMV) in a research report report published on Wednesday morning,Benzinga reports.

ZimVie Stock Up 0.9 %

Shares of NASDAQ ZIMV opened at $9.15 on Wednesday. The stock has a fifty day moving average price of $11.97 and a 200 day moving average price of $13.49. The company has a current ratio of 1.94, a quick ratio of 1.38 and a debt-to-equity ratio of 0.57. ZimVie has a 12-month low of $8.56 and a 12-month high of $22.40. The company has a market cap of $254.80 million, a P/E ratio of -0.70 and a beta of 2.14.

ZimVie (NASDAQ:ZIMV) last posted its earnings results on Wednesday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $111.52 million during the quarter, compared to analyst estimates of $113.67 million. ZimVie had a positive return on equity of 2.90% and a negative net margin of 77.31%. Research analysts anticipate that ZimVie will post 0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On ZimVie

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in ZimVie in the 3rd quarter valued at about $528,000. Barclays PLC boosted its holdings in ZimVie by 338.4% in the third quarter. Barclays PLC now owns 43,437 shares of the company’s stock valued at $690,000 after purchasing an additional 33,529 shares during the last quarter. Geode Capital Management LLC grew its stake in ZimVie by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 646,564 shares of the company’s stock valued at $10,263,000 after purchasing an additional 15,053 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in ZimVie during the 3rd quarter worth approximately $275,000. Finally, JPMorgan Chase & Co. raised its position in shares of ZimVie by 66.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 183,419 shares of the company’s stock valued at $2,911,000 after purchasing an additional 73,395 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

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.