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 (EPS) guidance of 0.550-0.700 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted their price objective on ZimVie from $20.00 to $23.00 and gave the stock a buy rating in a report on Friday.

ZimVie Price Performance

NASDAQ ZIMV traded down $3.10 during trading hours on Friday, reaching $17.30. The company’s stock had a trading volume of 1,723,003 shares, compared to its average volume of 426,869. The company has a quick ratio of 2.23, a current ratio of 2.68 and a debt-to-equity ratio of 1.32. ZimVie has a 1 year low of $6.52 and a 1 year high of $22.40. The firm’s 50-day moving average price is $18.05 and its 200-day moving average price is $17.54. The company has a market capitalization of $472.12 million, a price-to-earnings ratio of -1.24 and a beta of 2.18.

ZimVie (NASDAQ:ZIMV) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter. ZimVie had a positive return on equity of 2.09% and a negative net margin of 63.84%. The business had revenue of $116.81 million for the quarter. During the same period in the previous year, the firm earned $0.17 EPS. On average, equities research analysts predict that ZimVie will post 0.63 EPS for the current fiscal year.

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.