ZimVie (NASDAQ:ZIMV) Issues FY 2024 Earnings Guidance

ZimVie (NASDAQ:ZIMV) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.570-0.620 for the period, compared to the consensus estimate of 0.540. The company issued revenue guidance of $450.0 million-$455.0 million, compared to the consensus revenue estimate of $452.2 million.

ZimVie Stock Performance

NASDAQ:ZIMV traded up $0.01 during mid-day trading on Wednesday, hitting $13.70. 136,960 shares of the company traded hands, compared to its average volume of 320,645. The stock’s fifty day moving average price is $15.97 and its 200-day moving average price is $16.86. ZimVie has a one year low of $6.52 and a one year high of $22.40. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 0.62. The firm has a market cap of $377.71 million, a price-to-earnings ratio of -1.04 and a beta of 2.12.

ZimVie (NASDAQ:ZIMV) last released its quarterly 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). ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.21%. The company had revenue of $116.81 million for the quarter. During the same period in the previous year, the company earned $0.17 earnings per share. Research analysts anticipate that ZimVie will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Transactions at ZimVie

In other news, major shareholder Camber Capital Management Lp sold 525,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $17.71, for a total value of $9,297,750.00. Following the completion of the transaction, the insider now owns 2,725,000 shares of the company’s stock, valued at $48,259,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.02% of the company’s stock.

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.