Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Declines By 42.7%

ZimVie Inc. (NASDAQ:ZIMV) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 425,700 shares, a drop of 42.7% from the August 31st total of 743,100 shares. Based on an average trading volume of 671,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.6% of the shares of the company are sold short. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 671,300 shares, the days-to-cover ratio is currently 0.6 days.

ZimVie Price Performance

Shares of ZIMV stock opened at $18.94 on Friday. The stock’s fifty day moving average is $18.88 and its 200-day moving average is $12.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 2.37. The stock has a market capitalization of $534.30 million, a PE ratio of -27.06 and a beta of 2.17. ZimVie has a 52 week low of $8.15 and a 52 week high of $19.01.

ZimVie (NASDAQ:ZIMV) last announced its earnings results on Wednesday, July 30th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The company had revenue of $116.66 million for the quarter, compared to analysts’ expectations of $112.60 million. ZimVie had a positive return on equity of 6.37% and a negative net margin of 4.39%. Equities research analysts expect that ZimVie will post 0.6 EPS for the current fiscal year.

Institutional Trading of ZimVie

Several large investors have recently made changes to their positions in ZIMV. Wealth Enhancement Advisory Services LLC grew its position in shares of ZimVie by 5.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,127 shares of the company’s stock valued at $211,000 after purchasing an additional 836 shares during the period. Teton Advisors Inc. boosted its position in shares of ZimVie by 1.4% during the second quarter. Teton Advisors Inc. now owns 75,000 shares of the company’s stock worth $701,000 after buying an additional 1,000 shares during the period. Rhumbline Advisers boosted its position in shares of ZimVie by 2.9% during the second quarter. Rhumbline Advisers now owns 43,664 shares of the company’s stock worth $408,000 after buying an additional 1,232 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of ZimVie by 4.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 42,000 shares of the company’s stock worth $454,000 after buying an additional 1,690 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of ZimVie by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 133,611 shares of the company’s stock worth $1,443,000 after buying an additional 3,043 shares during the period. Institutional investors own 95.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ZIMV shares. Barclays upgraded ZimVie from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.00 to $19.00 in a research report on Tuesday, July 22nd. B. Riley downgraded ZimVie from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of ZimVie in a research report on Saturday, September 27th. Finally, Wall Street Zen downgraded ZimVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $17.75.

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.