ZimVie (NASDAQ:ZIMV) Releases FY 2024 Earnings Guidance

ZimVie (NASDAQ:ZIMV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.550-0.700 for the period, compared to the consensus estimate of 0.590. The company issued revenue guidance of $450.0 million-$460.0 million, compared to the consensus revenue estimate of $453.9 million.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC increased their price target on ZimVie from $20.00 to $23.00 and gave the stock a buy rating in a report on Friday.

ZimVie Stock Down 15.2 %

NASDAQ:ZIMV traded down $3.10 on Friday, hitting $17.30. The stock had a trading volume of 1,723,003 shares, compared to its average volume of 426,869. The company has a quick ratio of 2.23, a current ratio of 2.68 and a debt-to-equity ratio of 1.32. ZimVie has a 52 week low of $6.52 and a 52 week high of $22.40. The business’s fifty day moving average is $18.05 and its 200 day moving average is $17.54. The company has a market cap of $472.12 million, a PE ratio of -1.24 and a beta of 2.18.

ZimVie (NASDAQ:ZIMV) last posted its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter. The company had revenue of $116.81 million during the quarter. ZimVie had a negative net margin of 63.84% and a positive return on equity of 2.09%. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, equities research analysts expect that ZimVie will post 0.63 EPS for the current fiscal year.

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.