ZimVie (NASDAQ:ZIMV) Updates FY 2024 Earnings Guidance

ZimVie (NASDAQ:ZIMV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.550-0.700 for the period, compared to the consensus earnings per share estimate of 0.590. The company issued revenue guidance of $450.0 million-$460.0 million, compared to the consensus revenue estimate of $453.9 million.

ZimVie Stock Performance

Shares of ZIMV stock traded down $3.10 during trading hours on Friday, reaching $17.30. The company had a trading volume of 1,723,003 shares, compared to its average volume of 426,869. The business has a fifty day moving average price of $18.05 and a 200-day moving average price of $17.54. ZimVie has a one year low of $6.52 and a one year high of $22.40. The firm has a market cap of $472.12 million, a PE ratio of -1.24 and a beta of 2.18. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.23 and a current ratio of 2.68.

ZimVie (NASDAQ:ZIMV) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter. ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.09%. The firm had revenue of $116.81 million during the quarter. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Sell-side analysts predict that ZimVie will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price target on shares of ZimVie from $20.00 to $23.00 and gave the stock a buy rating in a research note on Friday.

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.