The Vanguard Group, Inc. has recently announced that it has increased stake in ZimVie Inc. (NASDAQ:ZIMV) by 11.12%. After grabbing 1.84 million shares, the institutional investor is now in possession of 0.18 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 7.06% having worth around $20.96 million. Moreover, Balyasny Asset Management LP increased its share by 39684.0 to have a control over 1.21 million shares. And American Century Investment Manag raised its holdings to 0.18 million shares by acquiring 1.12 million shares or 4.28% of the stake.
ZimVie Inc. (ZIMV) concluded trading on 03/15/23 at a closing price of $6.41, with 1.94 million shares of worth about $12.4 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -57.27% during that period and on Wednesday the price saw a gain of about 15.29%. Currently the company’s common shares owned by public are about 26.11M shares, out of which, 26.07M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the ZIMV stock and their offered price forecasts bring an average price target of $7.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $9.00 and could fall to a lowest price of $5.00. The stock’s current price level is 8.43% above of average price target set by the analysts, while a rise to estimated low would result in loss of -28.2% for the stock. However, touching the estimated high of $9.00 would mean a gain of 28.78% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 9 times over the past 12 months. They bought 20,000 shares in 2 of the transactions. In 7 selling transactions, insiders dumped 5,135,207 shares.
iShares Core S&P Small Cap ETF, American Century Small Cap Value, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in ZimVie Inc. iShares Core S&P Small Cap ETF is currently holding 1.6 million shares of worth totaling $18.19 million. The company recently came buying 3874.0 shares which brought its stake up to 6.13% of the company’s outstanding shares. American Century Small Cap Value bought 0.15 million shares, after which its hold over company’s outstanding shares expand to 3.55%, leaving 0.93 million shares with the mutual fund that have a worth of about $10.53 million. Vanguard Total Stock Market Index, after buying 0.89 million shares, have now control over 3.40% of the stake in the company. It holds 47600.0 shares of worth $10.09 million.
ZimVie Inc. (NASDAQ: ZIMV) started trading at $5.55, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 6.51, or with a gain of 15.29%. Stock saw a price change of 20.72% in past 5 days and over the past one month there was a price change of -40.21%. Year-to-date (YTD), ZIMV shares are showing a performance of -31.37% which decreased to -72.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.05 but also hit the highest price of $28.94 during that period. The average intraday trading volume for ZimVie Inc. shares is 713.27K. The stock is currently trading -26.43% below its 20-day simple moving average (SMA20), while that difference is down -29.33% for SMA50 and it goes to -48.48% lower than SMA200.
The Vanguard Group, Inc. acquired 1.84 million shares of ZimVie Inc. having value of about $20.96 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.18 million shares in the company valued at close to $1181138.65, or have control over 11.12% stake in the company. ZimVie Inc. (NASDAQ: ZIMV) currently have 26.11M outstanding shares and institutions hold larger chunk of about 76.30% of that. Holding of mutual funds in the company is about 42.17% while other institutional holders and individual stake holders have control over 42.78% and 20.70% of the stake respectively.
The stock has a current market capitalization of $168.13M. It has posted earnings per share of -$2.45 in the same period. It has Quick Ratio of 1.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ZIMV, volatility over the week remained 10.84% while standing at 11.27% over the month.
Analysts are in expectations that ZimVie Inc. (ZIMV) stock would likely to be making an EPS of $0.21 in the current quarter, while forecast for next quarter EPS is $0.31 and it is $1.29 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.14 which is $0.28 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 32.90% while it is estimated to increase by 85.14% in next year.
Analysts at 2 brokerage firms have issued recommendations for the ZimVie Inc. (ZIMV)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.50. Out of those 2 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on December 21, 2022 offering an Underweight rating for the stock and assigned a target price of $9 to it. Coverage by JP Morgan stated ZimVie Inc. (ZIMV) stock as a Neutral in their note to investors on June 17, 2022, suggesting a price target of $20 for the stock.
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