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

ZimVie Inc. (NASDAQ:ZIMV) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 550,900 shares, a drop 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. Approximately 2.0% of the company’s stock are short sold.

Insider Activity

In related news, major shareholder Camber Capital Management Lp sold 525,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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. 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.

Institutional Trading of ZimVie

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of ZimVie by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,035,069 shares of the company’s stock worth $18,889,000 after acquiring an additional 36,846 shares during the period. American Century Companies Inc. grew its stake in shares of ZimVie by 212.8% in the second quarter. American Century Companies Inc. now owns 412,434 shares of the company’s stock worth $7,527,000 after acquiring an additional 280,565 shares during the period. Renaissance Technologies LLC grew its position in ZimVie by 26.6% during the second quarter. Renaissance Technologies LLC now owns 406,400 shares of the company’s stock valued at $7,417,000 after buying an additional 85,300 shares during the period. Gamco Investors INC. ET AL increased its holdings in ZimVie by 6.0% during the first quarter. Gamco Investors INC. ET AL now owns 343,717 shares of the company’s stock valued at $5,668,000 after buying an additional 19,459 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in ZimVie by 0.7% in the first quarter. Russell Investments Group Ltd. now owns 281,377 shares of the company’s stock worth $4,640,000 after acquiring an additional 1,964 shares during the period. 95.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ZimVie Price Performance

ZIMV opened at $15.76 on Friday. The company’s 50-day simple moving average is $17.71 and its two-hundred day simple moving average is $17.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.43 and a current ratio of 1.94. The stock has a market capitalization of $434.50 million, a P/E ratio of -1.13 and a beta of 2.13. ZimVie has a 52-week low of $6.52 and a 52-week high of $22.40.

ZimVie (NASDAQ:ZIMV) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS 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 company had revenue of $116.81 million during the quarter. During the same period in the previous year, the company earned $0.17 EPS. As a group, analysts predict that ZimVie will post 0.63 EPS for the current year.

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.