Short Interest in ZimVie Inc. (NASDAQ:ZIMV) Drops By 20.9%

ZimVie Inc. (NASDAQ:ZIMV) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 624,000 shares, a decline of 20.9% from the March 31st total of 788,400 shares. Based on an average trading volume of 371,600 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.4% of the shares of the stock are short sold.

ZimVie Price Performance

Shares of NASDAQ ZIMV opened at $15.82 on Friday. The firm has a 50-day simple moving average of $17.03 and a 200-day simple moving average of $14.58. The stock has a market capitalization of $430.64 million, a price-to-earnings ratio of -1.07 and a beta of 2.18. The company has a quick ratio of 2.32, a current ratio of 2.78 and a debt-to-equity ratio of 1.26. ZimVie has a 52 week low of $6.52 and a 52 week high of $20.91.

ZimVie (NASDAQ:ZIMV) last issued its earnings results on Wednesday, February 28th. The company reported $0.10 EPS for the quarter. The business had revenue of $113.07 million during the quarter. ZimVie had a negative net margin of 51.33% and a positive return on equity of 2.44%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZIMV. Needham & Company LLC reissued a “hold” rating on shares of ZimVie in a report on Thursday, April 11th. Barclays boosted their price target on shares of ZimVie from $13.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, March 5th.

Institutional Investors Weigh In On ZimVie

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of ZimVie by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 761,285 shares of the company’s stock valued at $13,513,000 after buying an additional 132,804 shares during the last quarter. LSV Asset Management grew its holdings in shares of ZimVie by 528.6% in the third quarter. LSV Asset Management now owns 753,029 shares of the company’s stock valued at $7,086,000 after purchasing an additional 633,229 shares during the period. Acadian Asset Management LLC grew its holdings in shares of ZimVie by 8.5% in the third quarter. Acadian Asset Management LLC now owns 730,436 shares of the company’s stock valued at $6,869,000 after purchasing an additional 57,159 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of ZimVie in the third quarter valued at about $4,389,000. Finally, Kennedy Capital Management LLC grew its holdings in shares of ZimVie by 6.1% in the third quarter. Kennedy Capital Management LLC now owns 386,403 shares of the company’s stock valued at $3,636,000 after purchasing an additional 22,175 shares during the period. 95.63% of the stock is currently owned by institutional investors and hedge funds.

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.