Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Declines By 18.5%

ZimVie Inc. (NASDAQ:ZIMV) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 550,900 shares, a drop of 18.5% from the August 31st total of 676,100 shares. Based on an average daily trading volume, of 398,400 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.0% of the company’s shares are sold short.

ZimVie Price Performance

Shares of ZimVie stock opened at $15.76 on Friday. The company has a market cap of $434.50 million, a PE ratio of -1.13 and a beta of 2.13. The business has a 50 day moving average of $17.71 and a 200 day moving average of $17.11. ZimVie has a 52 week low of $6.52 and a 52 week high of $22.40. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 0.62.

ZimVie (NASDAQ:ZIMV) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. The company had revenue of $116.81 million during the quarter. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities research analysts forecast that ZimVie will post 0.63 earnings per share for the current year.

Insider Activity

In other ZimVie news, 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 transaction, the insider now directly owns 2,725,000 shares of the company’s stock, valued at approximately $48,259,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.01% of the company’s stock.

Institutional Trading of ZimVie

Several large investors have recently bought and sold shares of the company. Gabelli Funds LLC lifted its stake in shares of ZimVie by 25.4% in the 4th quarter. Gabelli Funds LLC now owns 40,260 shares of the company’s stock valued at $715,000 after purchasing an additional 8,160 shares during the period. CenterBook Partners LP purchased a new position in ZimVie during the fourth quarter valued at $988,000. Scarborough Advisors LLC bought a new stake in shares of ZimVie during the 4th quarter valued at $28,000. Russell Investments Group Ltd. boosted its holdings in shares of ZimVie by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 281,377 shares of the company’s stock valued at $4,640,000 after buying an additional 1,964 shares in the last quarter. Finally, Heritage Wealth Advisors grew its position in shares of ZimVie by 172,750.0% in the 1st quarter. Heritage Wealth Advisors now owns 6,914 shares of the company’s stock worth $114,000 after buying an additional 6,910 shares during the period. 95.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC raised their target price on ZimVie from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

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.