Long Position on ZIMV @ $19.50 on 2/27/2024 (Momentum)

ZimVie Inc. (ZIMV), a medical technology company, 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 offers dental implant systems, prosthetic and abutment products, surgical instrumentation, and kits; bone grafts, barrier membranes, allografts, and collagen wound care products; hardware and software solutions consist of intraoral scanners and RealGUIDE; and virtual treatment planning services, guided surgery solutions, CAD/CAM workflow systems, and patient-specific restorative components and intra-oral scanners, as well as spinal fusion implants and instrumentation for various spinal procedures, biologics, and bone healing technologies.

The company also provides MIS solutions, such as Vital MIS and Timberline; and motion preservation solutions, including Mobi-C and The Tether. ZimVie Inc. was incorporated in 2021 and is headquartered in Westminster, Colorado.

Please note, this stock reports earnings on Wednesday February 29th.

ZimVie reported earnings of $0.08 per share on revenue of $202.87 million for the third quarter ended September 2023. The consensus estimate was a loss of $0.01 per share on revenue of $198.50 million. The company beat consensus estimates by 900.00% while revenue fell 5.45% compared to the same quarter a year ago.

The company said it expects 2023 earnings of $0.60 to $0.70 per share on revenue of $860.0 million to $870.0 million. The company's previous guidance was earnings of $0.50 to $0.70 per share on revenue of $850.0 million to $870.0 million and the current consensus earnings estimate is $0.64 per share on revenue of $862.50 million for the year ending December 31, 2023.

Entry Point: $19.50

Trading Range: $5.05 - $20.91

Stop Loss: $18.50

Target Price: $21.45

Position closed on 2/29/2024 at price of $18.50 with a -5.13% loss in 2 days.

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