Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Drops By 42.7%

ZimVie Inc. (NASDAQ:ZIMV) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 425,700 shares, a drop of 42.7% from the August 31st total of 743,100 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 671,300 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 671,300 shares, the short-interest ratio is currently 0.6 days. Approximately 1.6% of the company’s stock are sold short.

Hedge Funds Weigh In On ZimVie

A number of hedge funds and other institutional investors have recently made changes to their positions in ZIMV. Hsbc Holdings PLC acquired a new stake in ZimVie during the 1st quarter worth $144,000. American Century Companies Inc. increased its holdings in shares of ZimVie by 10.0% in the first quarter. American Century Companies Inc. now owns 690,675 shares of the company’s stock worth $7,459,000 after acquiring an additional 62,625 shares in the last quarter. Ancora Advisors LLC raised its position in shares of ZimVie by 140.1% during the first quarter. Ancora Advisors LLC now owns 269,290 shares of the company’s stock worth $2,908,000 after purchasing an additional 157,130 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of ZimVie by 22.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 636,341 shares of the company’s stock valued at $6,872,000 after purchasing an additional 117,229 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in ZimVie by 10.5% in the first quarter. Russell Investments Group Ltd. now owns 305,431 shares of the company’s stock valued at $3,299,000 after buying an additional 28,988 shares in the last quarter. 95.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZIMV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZimVie in a research note on Saturday, September 27th. B. Riley lowered shares of ZimVie from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Thursday, July 31st. Wall Street Zen cut ZimVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Finally, Barclays raised shares of ZimVie from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $9.00 to $19.00 in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ZimVie has an average rating of “Reduce” and a consensus price target of $17.75.

ZimVie Price Performance

NASDAQ ZIMV opened at $18.94 on Friday. The stock’s 50 day simple moving average is $18.88 and its 200 day simple moving average is $12.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.37 and a quick ratio of 1.60. The firm has a market cap of $534.30 million, a PE ratio of -27.06 and a beta of 2.17. ZimVie has a one year low of $8.15 and a one year high of $19.01.

ZimVie (NASDAQ:ZIMV) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $116.66 million during the quarter, compared to analysts’ expectations of $112.60 million. ZimVie had a negative net margin of 4.39% and a positive return on equity of 6.37%. As a group, sell-side analysts forecast that ZimVie will post 0.6 earnings per share for the current fiscal year.

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.