Quest Partners LLC Sells 685 Shares of ZimVie Inc. (NASDAQ:ZIMV)

Quest Partners LLC trimmed its stake in shares of ZimVie Inc. (NASDAQ:ZIMV) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,670 shares of the company’s stock after selling 685 shares during the quarter. Quest Partners LLC’s holdings in ZimVie were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gabelli Funds LLC increased its position in ZimVie by 2.0% during the 1st quarter. Gabelli Funds LLC now owns 41,060 shares of the company’s stock valued at $677,000 after purchasing an additional 800 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ZimVie by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,531 shares of the company’s stock worth $356,000 after buying an additional 1,275 shares during the period. Scarborough Advisors LLC bought a new position in ZimVie during the fourth quarter worth $28,000. Russell Investments Group Ltd. lifted its holdings in ZimVie by 0.7% in the first 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 during the period. Finally, Summit Securities Group LLC boosted its position in ZimVie by 518.6% during the second quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock valued at $55,000 after acquiring an additional 2,515 shares during the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other ZimVie news, major shareholder Camber Capital Management Lp sold 525,000 shares of the 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 owns 2,725,000 shares in the company, valued at $48,259,750. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.01% of the stock is owned by company insiders.

ZimVie Price Performance

ZimVie stock opened at $16.47 on Thursday. The stock has a market capitalization of $454.08 million, a price-to-earnings ratio of -1.18 and a beta of 2.13. ZimVie Inc. has a 52-week low of $6.52 and a 52-week high of $22.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.43 and a current ratio of 1.94. The stock’s 50 day moving average price is $18.25 and its two-hundred day moving average price is $17.17.

ZimVie (NASDAQ:ZIMV) last issued its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (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 for the quarter. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, equities analysts predict that ZimVie Inc. will post 0.63 earnings per share for the current year.

ZimVie 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.