Truist Financial Corp Buys New Stake in ZimVie Inc. (NASDAQ:ZIMV)

Truist Financial Corp purchased a new stake in ZimVie Inc. (NASDAQ:ZIMV) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 22,530 shares of the company’s stock, valued at approximately $411,000. Truist Financial Corp owned about 0.08% of ZimVie as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in ZimVie in the 2nd quarter valued at $3,993,000. Quarry LP raised its holdings in ZimVie by 337.8% in the 2nd quarter. Quarry LP now owns 1,655 shares of the company’s stock valued at $30,000 after acquiring an additional 1,277 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in ZimVie in the 2nd quarter valued at $1,692,000. The Manufacturers Life Insurance Company acquired a new position in ZimVie in the 2nd quarter valued at $191,000. Finally, AQR Capital Management LLC increased its holdings in shares of ZimVie by 223.7% during the 2nd quarter. AQR Capital Management LLC now owns 34,436 shares of the company’s stock worth $614,000 after buying an additional 23,797 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ZimVie

In related news, major shareholder Camber Capital Management Lp sold 525,000 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,725,000 shares in the company, valued at approximately $48,259,750. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

ZimVie Trading Down 0.4 %

ZIMV stock opened at $14.80 on Friday. The company has a market cap of $408.04 million, a price-to-earnings ratio of -1.12 and a beta of 2.12. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $16.50 and a 200-day simple moving average of $17.02. ZimVie Inc. has a 52 week low of $6.52 and a 52 week high of $22.40.

ZimVie (NASDAQ:ZIMV) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $116.81 million for the quarter. ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. During the same period last year, the firm posted $0.17 EPS. On average, equities research analysts expect that ZimVie Inc. will post 0.63 EPS for the current year.

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.