ZimVie Inc. (NASDAQ:ZIMV) is seeing a significant drop in short interest

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

Analysts set new price targets

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

See the latest stock report on ZIMV

Insider buying and selling at ZimVie

In other news, major shareholder Camber Capital Management Lp sold 525,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $17.71, for a total transaction of $9,297,750.00. Following the completion of the sale, the insider now owns 2,725,000 shares in the company, valued at approximately $48,259,750. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Corporate insiders own 3.01% of the company’s shares.

Hedge funds influence ZimVie

Several hedge funds have recently bought and sold shares of ZIMV. Scarborough Advisors LLC bought a new position in ZimVie in the 4th quarter valued at $28,000. Quarry LP grew its position in shares of ZimVie by 337.8% in the second quarter. Quarry LP now owns 1,655 shares of the company’s stock worth $30,000 after purchasing an additional 1,277 shares during the last quarter. Summit Securities Group LLC boosted its stake in ZimVie by 518.6% in the second quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock valued at $55,000 after purchasing an additional 2,515 shares during the period. Heritage Wealth Advisors increased its position in ZimVie by 172,750.0% in the first quarter. Heritage Wealth Advisors now owns 6,914 shares of the company’s stock worth $114,000 after purchasing an additional 6,910 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in ZimVie in the second quarter valued at about $191,000. Hedge funds and other institutional investors own 95.63% of the company’s shares.

ZimVie trading up 1.0%

NASDAQ:ZIMV opened at $15.59 on Friday. ZimVie has a 1 year low of $6.52 and a 1 year high of $22.40. The stock’s fifty day moving average price is $17.83 and its two hundred day moving average price is $17.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.94, and a quick ratio of 1.43. The company has a market cap of $429.82 million, a P/E ratio of -1.12 and a beta of 2.13.

ZimVie (NASDAQ:ZIMV – Get Your Free Report ) last posted its earnings results 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. In the same period of the previous year, the company posted EPS of $0.17. As a group, analysts expect that ZimVie will post 0.63 EPS for the current year.

ZimVie Company Profile

(Get a free report)

ZimVie Inc, together with its subsidiaries, develops, manufactures and markets a portfolio of products and solutions designed to treat various spinal pathologies and support dental tooth replacement and restorative procedures worldwide. It operates through two segments, the Dental Segment and the Spinal Segment.

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