Needham analyst David Saxon has maintained their neutral stance on ZIMV stock, giving a Hold rating on July 11.
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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.