Zimvie Inc Up 10.7% To $7.45 After Earnings Beat

Thursday, November 2, 2023 - Zimvie Inc (ZIMV) reported upside earnings and revenues today.

Zimvie Inc's earnings came in at an EPS of $0.08 per share, 500.00% higher than estimates for an EPS loss of $0.02 per share. The firm's earnings are down 84% since reporting $0.49 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $202.9 million. That represents a 5.45% decrease in revenues from the year-ago report and is 2.20% higher than consensus estimates set at $198.5 million.

The stock is up 10.7% to $7.45 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Sell on the stock prior to the report.

Trading in the five days leading up to the report earned Zimvie Inc a Bearish Sentiment Rank from InvestorsObserver.

Zimvie Inc has performed a little below average during the past few months. Before the report, Zimvie Inc received a Long-Term Technical Rank by InvestorsObserver of 30, putting it in the bottom half of stocks. The firm set a 52-week high on August 3, 2023 at $15.5 and set a 52-week low on March 2, 2023 at $5.05.

ZimVie Inc is focused on the dental and spine markets and their respective growth drivers such as implants, surgical tools, bone graft substitutes, spinal fusion implants, non-fusion alternatives, and digital care management solutions. Business is organized into two operating segments being the spine products segment and the dental products segment.