Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Drops By 20.9%

ZimVie Inc. (NASDAQ:ZIMV) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 624,000 shares, a decrease of 20.9% from the March 31st total of 788,400 shares. Based on an average daily volume of 371,600 shares, the short-interest ratio is currently 1.7 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZIMV. Needham & Company LLC reaffirmed a “hold” rating on shares of ZimVie in a research report on Thursday, April 11th. Barclays upped their price target on ZimVie from $13.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, March 5th.

Institutional Investors Weigh In On ZimVie

Several large investors have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC increased its position in ZimVie by 1.1% in the first quarter. Rice Hall James & Associates LLC now owns 178,114 shares of the company’s stock worth $2,937,000 after buying an additional 2,012 shares during the period. Scarborough Advisors LLC acquired a new stake in ZimVie in the fourth quarter worth $28,000. CenterBook Partners LP acquired a new stake in ZimVie in the fourth quarter worth $988,000. Gabelli Funds LLC grew its stake in shares of ZimVie by 25.4% in the fourth quarter. Gabelli Funds LLC now owns 40,260 shares of the company’s stock worth $715,000 after purchasing an additional 8,160 shares in the last quarter. Finally, Teton Advisors Inc. bought a new position in shares of ZimVie in the fourth quarter worth $266,000. 95.63% of the stock is owned by institutional investors and hedge funds.

ZimVie Stock Performance

ZIMV stock opened at $15.82 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.32 and a debt-to-equity ratio of 1.26. The firm has a market cap of $430.64 million, a P/E ratio of -1.07 and a beta of 2.18. ZimVie has a 12-month low of $6.52 and a 12-month high of $20.91. The stock’s 50 day simple moving average is $17.03 and its 200 day simple moving average is $14.58.

ZimVie (NASDAQ:ZIMV) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $113.07 million for the quarter. ZimVie had a positive return on equity of 2.44% and a negative net margin of 51.33%.

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.