Millennium Management LLC Lowers Position in ZimVie Inc. (NASDAQ:ZIMV)

Millennium Management LLC lessened its stake in shares of ZimVie Inc. (NASDAQ:ZIMV) by 12.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 656,966 shares of the company’s stock after selling 92,423 shares during the period. Millennium Management LLC owned 2.38% of ZimVie worth $9,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of ZimVie by 9.8% during the 4th quarter. Principal Financial Group Inc. now owns 19,054 shares of the company’s stock valued at $266,000 after acquiring an additional 1,702 shares during the period. Bank of New York Mellon Corp lifted its holdings in ZimVie by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 100,638 shares of the company’s stock valued at $1,404,000 after purchasing an additional 943 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ZimVie by 18.7% in the fourth quarter. JPMorgan Chase & Co. now owns 217,773 shares of the company’s stock worth $3,038,000 after purchasing an additional 34,354 shares during the period. LPL Financial LLC purchased a new stake in shares of ZimVie in the fourth quarter worth $993,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of ZimVie in the fourth quarter worth $463,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

ZimVie Trading Down 0.8%

ZimVie stock opened at $8.28 on Monday. ZimVie Inc. has a 1 year low of $8.15 and a 1 year high of $22.40. The firm’s 50 day moving average price is $9.58 and its 200-day moving average price is $12.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.94 and a quick ratio of 1.38. The stock has a market cap of $230.57 million, a P/E ratio of -0.63 and a beta of 2.16.

ZimVie (NASDAQ:ZIMV) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. ZimVie had a negative net margin of 77.31% and a positive return on equity of 2.90%. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $113.10 million. On average, equities analysts predict that ZimVie Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZIMV. UBS Group lowered their target price on shares of ZimVie from $16.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. Needham & Company LLC restated a “hold” rating on shares of ZimVie in a research report on Wednesday, April 9th. Finally, B. Riley started coverage on ZimVie in a research note on Thursday, April 10th. They issued a “buy” rating and a $16.00 price objective for the company.

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.