ZimVie could be worth $25-$29 per share in takeout, says Needham

Needham notes that Bloomberg reported that ZimVie is considering options, including a potential sale, and is “not too surprised by this news” given the company’s portfolio and margin expansion potential. The firm, which estimates that ZimVie could be worth $25-$29 per share in a potential acquisition deal, believes buyers could include both strategics and private equity and thinks shares are attractive, “deal or no deal.” The firm reiterates a Buy rating and $20 price target on ZimVie shares, which are up $3.26, or 22%, to $18.05 in Tuesday afternoon trading following Bloomberg’s report.