ZimVie (NASDAQ:ZIMV) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of ZimVie (NASDAQ:ZIMV) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

ZimVie Stock Performance

Shares of NASDAQ ZIMV opened at $12.88 on Thursday. The stock has a 50 day moving average price of $13.75 and a 200 day moving average price of $14.78. ZimVie has a 52 week low of $12.25 and a 52 week high of $22.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.38 and a current ratio of 1.94. The stock has a market capitalization of $355.48 million, a PE ratio of -0.98 and a beta of 2.10.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. ZimVie had a positive return on equity of 2.90% and a negative net margin of 77.31%. The firm had revenue of $111.52 million during the quarter, compared to analysts’ expectations of $113.67 million. Analysts predict that ZimVie will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of ZimVie

A number of hedge funds have recently made changes to their positions in the business. J. Goldman & Co LP lifted its position in shares of ZimVie by 167.5% in the fourth quarter. J. Goldman & Co LP now owns 1,425,810 shares of the company’s stock valued at $19,890,000 after buying an additional 892,785 shares during the last quarter. Forest Hill Capital LLC lifted its position in shares of ZimVie by 25.9% in the fourth quarter. Forest Hill Capital LLC now owns 172,809 shares of the company’s stock valued at $2,411,000 after buying an additional 35,500 shares during the last quarter. Deutsche Bank AG lifted its position in shares of ZimVie by 61.7% in the fourth quarter. Deutsche Bank AG now owns 23,796 shares of the company’s stock valued at $332,000 after buying an additional 9,084 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of ZimVie by 12.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 301,316 shares of the company’s stock valued at $4,203,000 after buying an additional 32,551 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of ZimVie in the fourth quarter valued at approximately $418,000. 95.63% of the stock is owned by institutional investors and hedge funds.

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.