Camber Capital Management Lp Sells 525,000 Shares of ZimVie Inc. (NASDAQ:ZIMV) Stock

ZimVie Inc. (NASDAQ:ZIMV) major shareholder Camber Capital Management Lp sold 525,000 shares of the business’s stock in a transaction 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 approximately $48,259,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ZimVie Trading Up 4.0 %

NASDAQ ZIMV opened at $17.72 on Friday. The company’s 50-day moving average price is $18.10 and its 200-day moving average price is $17.53. 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 stock has a market cap of $488.54 million, a PE ratio of -1.27 and a beta of 2.18. ZimVie Inc. has a 12 month low of $6.52 and a 12 month high of $22.40.

ZimVie (NASDAQ:ZIMV) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company 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 firm posted $0.17 EPS. Equities research analysts forecast that ZimVie Inc. will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in ZimVie by 27.2% during the 4th quarter. SG Americas Securities LLC now owns 14,152 shares of the company’s stock worth $251,000 after acquiring an additional 3,029 shares in the last quarter. Bailard Inc. bought a new position in ZimVie during the 4th quarter worth about $254,000. Russell Investments Group Ltd. grew its holdings in ZimVie by 60.4% during the 4th quarter. Russell Investments Group Ltd. now owns 279,413 shares of the company’s stock worth $4,960,000 after acquiring an additional 105,256 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ZimVie by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 761,285 shares of the company’s stock worth $13,513,000 after acquiring an additional 132,804 shares in the last quarter. Finally, Boston Partners bought a new position in ZimVie during the 4th quarter worth about $310,000. 95.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.