Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Drops By 21.5%

ZimVie Inc. (NASDAQ:ZIMV) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 432,300 shares, a decline of 21.5% from the September 15th total of 550,900 shares. Based on an average daily volume of 333,800 shares, the short-interest ratio is presently 1.3 days. Currently, 1.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC raised their price target on ZimVie from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

ZimVie Stock Down 1.5 %

NASDAQ ZIMV traded down $0.24 on Tuesday, hitting $15.57. 8,274 shares of the stock were exchanged, compared to its average volume of 327,927. ZimVie has a fifty-two week low of $6.52 and a fifty-two week 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 company has a market cap of $424.89 million, a PE ratio of -1.13 and a beta of 2.12. The company has a 50-day moving average price of $16.65 and a 200-day moving average price of $17.07.

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

Insiders Place Their Bets

In related news, major shareholder Camber Capital Management Lp sold 525,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.71, for a total value of $9,297,750.00. Following the transaction, the insider now directly owns 2,725,000 shares in the company, valued at approximately $48,259,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZIMV. Dimensional Fund Advisors LP grew its stake in ZimVie by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,035,069 shares of the company’s stock worth $18,889,000 after buying an additional 36,846 shares during the last quarter. American Century Companies Inc. grew its position in shares of ZimVie by 212.8% during the second 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 last quarter. Renaissance Technologies LLC raised its position in ZimVie by 26.6% in the 2nd quarter. Renaissance Technologies LLC now owns 406,400 shares of the company’s stock valued at $7,417,000 after purchasing an additional 85,300 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake 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 purchasing an additional 19,459 shares during the period. Finally, Russell Investments Group Ltd. grew its position 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 purchasing an additional 1,964 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

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.