Cubist Systematic Strategies LLC Trims Stake in ZimVie Inc. (NASDAQ:ZIMV)

Cubist Systematic Strategies LLC lessened its holdings in ZimVie Inc. (NASDAQ:ZIMV) by 56.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,837 shares of the company’s stock after selling 101,385 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.29% of ZimVie worth $1,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gabelli Funds LLC grew its holdings in ZimVie by 2.0% in the first quarter. Gabelli Funds LLC now owns 41,060 shares of the company’s stock worth $677,000 after purchasing an additional 800 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 period. Scarborough Advisors LLC purchased a new stake in ZimVie in the fourth quarter worth about $28,000. Russell Investments Group Ltd. grew 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 worth $4,640,000 after purchasing an additional 1,964 shares during the period. Finally, Summit Securities Group LLC grew its holdings in ZimVie by 518.6% in the second quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock worth $55,000 after purchasing an additional 2,515 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at ZimVie

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

ZimVie Trading Down 1.0 %

Shares of NASDAQ ZIMV opened at $15.71 on Wednesday. The firm’s 50 day moving average price is $17.46 and its 200-day moving average price is $17.11. The company has a market cap of $433.12 million, a PE ratio of -1.13 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.

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). The firm had revenue of $116.81 million during the quarter. ZimVie had a positive return on equity of 2.21% and a negative net margin of 63.84%. During the same quarter in the previous year, the company posted $0.17 EPS. On average, equities research 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.