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ZimVie Inc. (ZIMV) Stock Jumps 20.6%: Will It Continue to Soar?
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ZimVie Inc. (ZIMV - Free Report) shares ended the last trading session 20.6% higher at $13.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.8% loss over the past four weeks.
The company's shares have been rallying since April boosted by better-than-expected first quarter earnings. Investors are likely expecting another similar performance during the second quarter. The company will release second quarter results on Aug 2.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -104.5%. Revenues are expected to be $212.36 million, down 9.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ZimVie Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZIMV going forward to see if this recent jump can turn into more strength down the road.
ZimVie Inc. is part of the Zacks Medical - Products industry. Maravai LifeSciences Holdings, Inc. (MRVI - Free Report) , another stock in the same industry, closed the last trading session 2.1% lower at $12.52. MRVI has returned -7.2% in the past month.
Maravai LifeSciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. Compared to the company's year-ago EPS, this represents a change of -98.2%. Maravai LifeSciences Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).
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ZimVie Inc. (ZIMV) Stock Jumps 20.6%: Will It Continue to Soar?
ZimVie Inc. (ZIMV - Free Report) shares ended the last trading session 20.6% higher at $13.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.8% loss over the past four weeks.
The company's shares have been rallying since April boosted by better-than-expected first quarter earnings. Investors are likely expecting another similar performance during the second quarter. The company will release second quarter results on Aug 2.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -104.5%. Revenues are expected to be $212.36 million, down 9.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ZimVie Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZIMV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ZimVie Inc. is part of the Zacks Medical - Products industry. Maravai LifeSciences Holdings, Inc. (MRVI - Free Report) , another stock in the same industry, closed the last trading session 2.1% lower at $12.52. MRVI has returned -7.2% in the past month.
Maravai LifeSciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. Compared to the company's year-ago EPS, this represents a change of -98.2%. Maravai LifeSciences Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).