Cetera Investment Advisers Lowers Position in ZimVie Inc. (NASDAQ:ZIMV)

Cetera Investment Advisers decreased its position in shares of ZimVie Inc. (NASDAQ:ZIMV - Free Report) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,256 shares of the company's stock after selling 31,727 shares during the period. Cetera Investment Advisers owned about 0.46% of ZimVie worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ZIMV. Gabelli Funds LLC boosted its stake in shares of ZimVie by 2.0% during the first quarter. Gabelli Funds LLC now owns 41,060 shares of the company's stock valued at $677,000 after purchasing an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ZimVie by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,531 shares of the company's stock worth $356,000 after purchasing an additional 1,275 shares during the last quarter. Quarry LP grew its stake 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. Scarborough Advisors LLC acquired a new stake in ZimVie in the fourth quarter valued at $28,000. Finally, Russell Investments Group Ltd. raised its position in ZimVie by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 281,377 shares of the company's stock worth $4,640,000 after purchasing an additional 1,964 shares during the last quarter. 95.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Camber Capital Management Lp sold 525,000 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was 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 $48,259,750. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.01% of the company's stock.

ZimVie Trading Up 2.4 %

ZIMV stock traded up $0.38 during mid-day trading on Friday, reaching $16.00. The company's stock had a trading volume of 85,442 shares, compared to its average volume of 170,922. The business's 50 day moving average price is $16.66 and its 200 day moving average price is $17.07. The company has a market cap of $441.12 million, a price-to-earnings ratio of -1.21 and a beta of 2.12. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.62. ZimVie Inc. has a 12 month low of $6.52 and a 12 month high of $22.40.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $116.81 million during the quarter. ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.21%. During the same period in the prior year, the business posted $0.17 earnings per share. On average, equities research analysts predict that ZimVie Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

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