ZimVie (NASDAQ:ZIMV) Receives Buy Rating from Needham & Company LLC

ZimVie (NASDAQ:ZIMV)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 75.57% from the stock’s current price.

ZimVie Stock Down 0.7 %

Shares of NASDAQ:ZIMV opened at $13.10 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.94 and a debt-to-equity ratio of 0.57. ZimVie has a 52-week low of $12.70 and a 52-week high of $22.40. The stock’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $14.79. The company has a market capitalization of $361.55 million, a P/E ratio of -1.00 and a beta of 2.10.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.27 earnings per share (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 business had revenue of $111.52 million for the quarter, compared to the consensus estimate of $113.67 million. As a group, equities research analysts forecast that ZimVie will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZimVie

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in ZimVie by 15.7% during the fourth quarter. SG Americas Securities LLC now owns 11,110 shares of the company’s stock worth $155,000 after buying an additional 1,508 shares during the period. EMC Capital Management lifted its position in ZimVie by 47.0% during the fourth quarter. EMC Capital Management now owns 13,802 shares of the company’s stock worth $193,000 after buying an additional 4,414 shares during the period. Wells Fargo & Company MN lifted its position in ZimVie by 17.8% during the fourth quarter. Wells Fargo & Company MN now owns 17,037 shares of the company’s stock worth $238,000 after buying an additional 2,569 shares during the period. Integrated Quantitative Investments LLC purchased a new position in ZimVie during the fourth quarter worth about $248,000. Finally, Principal Financial Group Inc. lifted its position in ZimVie by 9.8% during the fourth quarter. Principal Financial Group Inc. now owns 19,054 shares of the company’s stock worth $266,000 after buying an additional 1,702 shares during the period. 95.63% of the stock is currently 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.