Insider Selling: ZimVie Inc. (NASDAQ:ZIMV) Major Shareholder Sells 525,000 Shares of Stock

ZimVie Inc. (NASDAQ:ZIMV) major shareholder Camber Capital Management Lp sold 525,000 shares of ZimVie 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 completion of the sale, the insider now owns 2,725,000 shares in the company, valued at $48,259,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ZimVie Stock Up 3.9 %

ZimVie stock traded up $0.65 on Tuesday, hitting $17.15. 747,501 shares of the stock traded hands, compared to its average volume of 368,975. ZimVie Inc. has a 1 year low of $6.52 and a 1 year high of $22.40. The firm has a market cap of $468.01 million, a P/E ratio of -1.23 and a beta of 2.18. The company has a current ratio of 2.68, a quick ratio of 2.23 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $18.05 and its 200 day simple moving average is $17.54.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). ZimVie had a positive return on equity of 2.09% and a negative net margin of 63.84%. The company had revenue of $116.81 million during the quarter. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, sell-side analysts forecast that ZimVie Inc. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZIMV. Scarborough Advisors LLC purchased a new position in shares of ZimVie during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC raised its stake in ZimVie by 518.6% during the 2nd quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock valued at $55,000 after buying an additional 2,515 shares during the last quarter. Heritage Wealth Advisors raised its stake in ZimVie by 172,750.0% during the 1st quarter. Heritage Wealth Advisors now owns 6,914 shares of the company’s stock valued at $114,000 after buying an additional 6,910 shares during the last quarter. EMC Capital Management bought a new position in shares of ZimVie during the 1st quarter valued at $228,000. Finally, SG Americas Securities LLC boosted its stake in shares of ZimVie by 27.2% in the 4th quarter. SG Americas Securities LLC now owns 14,152 shares of the company’s stock worth $251,000 after buying an additional 3,029 shares during the last quarter. 95.63% of the stock is owned by 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.