Zynex’s (ZYXI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Zynex (NASDAQ:ZYXI) in a report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock. HC Wainwright also issued estimates for Zynex’s Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $0.85 EPS.

Separately, Royal Bank of Canada lifted their price objective on Zynex from $13.00 to $15.00 and gave the stock an outperform rating in a research report on Friday, March 1st.

Zynex Trading Down 4.7 %

Shares of ZYXI stock opened at $11.00 on Wednesday. Zynex has a 1-year low of $6.88 and a 1-year high of $13.77. The company has a current ratio of 3.58, a quick ratio of 4.03 and a debt-to-equity ratio of 1.76. The stock has a market cap of $349.47 million, a price-to-earnings ratio of 47.83 and a beta of 0.49. The stock has a 50-day moving average of $12.27 and a 200-day moving average of $10.88.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). Zynex had a return on equity of 16.34% and a net margin of 4.33%. The firm had revenue of $47.28 million for the quarter, compared to the consensus estimate of $54.53 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Zynex will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Zynex

A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Zynex by 358.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock valued at $81,000 after acquiring an additional 5,830 shares in the last quarter. Aigen Investment Management LP acquired a new position in Zynex during the third quarter worth $81,000. Mainstay Capital Management LLC ADV bought a new position in shares of Zynex in the fourth quarter valued at $118,000. Principal Financial Group Inc. grew its holdings in shares of Zynex by 56.4% during the first quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock valued at $219,000 after buying an additional 6,378 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Zynex by 41.6% during the third quarter. Quantbot Technologies LP now owns 22,732 shares of the company’s stock worth $182,000 after acquiring an additional 6,680 shares in the last quarter. 29.68% of the stock is currently owned by institutional investors and hedge funds.

About Zynex

Zynex, Inc, together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; M-Wave, an NMES device.