ZimVie (NASDAQ:ZIMV) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ZimVie (NASDAQ:ZIMV - Free Report) in a report published on Thursday,Benzinga reports. The brokerage currently has a $23.00 price target on the stock.

ZimVie Price Performance

Shares of ZIMV traded up $0.21 during mid-day trading on Thursday, hitting $13.48. The company's stock had a trading volume of 190,511 shares, compared to its average volume of 243,156. ZimVie has a fifty-two week low of $12.18 and a fifty-two week high of $22.40. The stock has a market capitalization of $373.09 million, a price-to-earnings ratio of -1.03 and a beta of 2.10. The firm has a 50-day moving average price of $13.75 and a 200 day moving average price of $14.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.94 and a quick ratio of 1.38.

ZimVie (NASDAQ:ZIMV - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $111.52 million for the quarter, compared to analysts' expectations of $113.67 million. ZimVie had a positive return on equity of 2.90% and a negative net margin of 77.31%. On average, research analysts predict that ZimVie will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On ZimVie

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new position in ZimVie during the third quarter valued at approximately $891,000. Barclays PLC boosted its holdings in ZimVie by 338.4% in the third quarter. Barclays PLC now owns 43,437 shares of the company's stock worth $690,000 after purchasing an additional 33,529 shares in the last quarter. JPMorgan Chase & Co. increased its position in ZimVie by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 183,419 shares of the company's stock worth $2,911,000 after buying an additional 73,395 shares during the last quarter. Geode Capital Management LLC raised its holdings in ZimVie by 2.4% during the third quarter. Geode Capital Management LLC now owns 646,564 shares of the company's stock valued at $10,263,000 after buying an additional 15,053 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of ZimVie in the third quarter worth about $275,000. Institutional investors and hedge funds own 95.63% of the company's stock.

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.