Needham analyst David Saxon has maintained their neutral stance on ZIMV stock, giving a Hold rating on July 11.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
David Saxon has given his Hold rating due to a combination of factors surrounding ZimVie Inc’s recent acquisition announcement. The company is set to be acquired by ARCHIMED for an enterprise value of $730 million, equating to $19 per share, with the transaction expected to finalize by the end of 2025.
Despite the inclusion of a 40-day go-shop period, Saxon believes that the current offer adequately reflects ZimVie’s value, especially since the company had been entertaining offers previously. Consequently, he does not anticipate any competing bids to arise, thus supporting his decision to maintain a Hold rating.
In another report released on July 11, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.50 price target.