Insider Selling: ZimVie Inc. (NASDAQ:ZIMV) Major Shareholder Sells $9,297,750.00 in Stock

ZimVie Inc. (NASDAQ:ZIMV) major shareholder Camber Capital Management Lp sold 525,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.71, for a total transaction of $9,297,750.00. Following the completion of the transaction, the insider now owns 2,725,000 shares in the company, valued at $48,259,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ZimVie Stock Performance

NASDAQ ZIMV opened at $17.72 on Friday. The company’s 50 day moving average is $18.10 and its 200-day moving average is $17.53. ZimVie Inc. has a 12-month low of $6.52 and a 12-month high of $22.40. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 0.62. The firm has a market cap of $488.54 million, a P/E ratio of -1.27 and a beta of 2.18.

ZimVie (NASDAQ:ZIMV) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.21%. The business had revenue of $116.81 million during the quarter. During the same quarter in the prior year, the business posted $0.17 earnings per share. Sell-side analysts predict that ZimVie Inc. will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of ZimVie

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of ZimVie by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 761,285 shares of the company’s stock valued at $13,513,000 after purchasing an additional 132,804 shares during the period. American Century Companies Inc. increased its holdings in ZimVie by 212.8% during the 2nd 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. Gamco Investors INC. ET AL increased its holdings in ZimVie by 6.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 343,717 shares of the company’s stock worth $5,668,000 after acquiring an additional 19,459 shares during the period. First Eagle Investment Management LLC increased its holdings in ZimVie by 73.1% during the 4th quarter. First Eagle Investment Management LLC now owns 294,673 shares of the company’s stock worth $5,230,000 after acquiring an additional 124,487 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in ZimVie by 0.7% during the 1st 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. Institutional investors own 95.63% of the company’s stock.

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.