ZimVie Inc. (NASDAQ:ZIMV) Sees Large Increase in Short Interest

ZimVie Inc. (NASDAQ:ZIMV) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 788,400 shares, an increase of 21.9% from the March 15th total of 647,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 370,300 shares, the short-interest ratio is presently 2.1 days.

Hedge Funds Weigh In On ZimVie

Several institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC lifted its position in ZimVie by 5.0% during the fourth quarter. Voya Investment Management LLC now owns 11,102 shares of the company’s stock valued at $197,000 after purchasing an additional 524 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in ZimVie by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,256 shares of the company’s stock valued at $360,000 after purchasing an additional 619 shares during the last quarter. MetLife Investment Management LLC lifted its position in ZimVie by 8.0% during the second quarter. MetLife Investment Management LLC now owns 12,823 shares of the company’s stock valued at $144,000 after purchasing an additional 952 shares during the last quarter. Principal Financial Group Inc. lifted its position in ZimVie by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 17,167 shares of the company’s stock valued at $305,000 after purchasing an additional 1,172 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of ZimVie by 13.8% in the 2nd quarter. State of Wyoming now owns 10,017 shares of the company’s stock worth $112,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

ZimVie Stock Performance

ZIMV opened at $15.90 on Friday. The stock has a market capitalization of $432.80 million, a price-to-earnings ratio of -1.07 and a beta of 2.18. The company has a fifty day moving average of $17.78 and a 200 day moving average of $14.09. ZimVie has a fifty-two week low of $6.52 and a fifty-two week high of $20.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.32 and a current ratio of 2.78.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZIMV. JPMorgan Chase & Co. raised their target price on shares of ZimVie from $10.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Barclays raised their target price on shares of ZimVie from $13.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, March 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ZimVie in a research note on Thursday.

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.