First Eagle Investment Management LLC Boosts Holdings in ZimVie Inc. (NASDAQ:ZIMV)

First Eagle Investment Management LLC increased its holdings in shares of ZimVie Inc. (NASDAQ:ZIMV) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,481 shares of the company’s stock after buying an additional 38,124 shares during the period. First Eagle Investment Management LLC owned about 0.94% of ZimVie worth $4,754,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of ZimVie by 26.6% in the second quarter. Renaissance Technologies LLC now owns 406,400 shares of the company’s stock worth $7,417,000 after acquiring an additional 85,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ZimVie by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,035,069 shares of the company’s stock valued at $18,889,000 after purchasing an additional 36,846 shares during the period. Massachusetts Financial Services Co. MA grew its stake in ZimVie by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 102,431 shares of the company’s stock worth $1,869,000 after purchasing an additional 3,441 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in ZimVie during the 2nd quarter worth about $209,000. Finally, American Century Companies Inc. raised its position in ZimVie by 212.8% in the 2nd quarter. American Century Companies Inc. now owns 412,434 shares of the company’s stock valued at $7,527,000 after purchasing an additional 280,565 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC boosted 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.

Insider Activity at ZimVie

In other ZimVie 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 sale, the insider now owns 2,725,000 shares of the company’s stock, valued at $48,259,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.01% of the stock is currently owned by corporate insiders.

ZimVie Price Performance

ZimVie stock opened at $16.55 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $18.18 and a 200-day simple moving average of $17.17. The stock has a market cap of $451.63 million, a P/E ratio of -1.20 and a beta of 2.13. ZimVie Inc. has a 12-month low of $6.52 and a 12-month high of $22.40.

ZimVie (NASDAQ:ZIMV) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $116.81 million for the quarter. During the same period last year, the business earned $0.17 earnings per share. Equities analysts expect that ZimVie Inc. will post 0.63 EPS for the current fiscal year.

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.