Analysts Issue Forecasts for Zynex, Inc.’s Q2 2024 Earnings (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI) – Equities research analysts at HC Wainwright dropped their Q2 2024 EPS estimates for Zynex in a research report issued on Wednesday, May 1st. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.09. HC Wainwright currently has a “Buy” rating and a $21.00 price target on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.50 per share. HC Wainwright also issued estimates for Zynex’s Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.30 EPS.

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

Zynex Stock Performance

Shares of ZYXI opened at $11.00 on Thursday. 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 P/E ratio of 47.83 and a beta of 0.49. The company has a 50-day moving average of $12.31 and a two-hundred day moving average of $10.84. Zynex has a 12-month low of $6.88 and a 12-month high of $13.77.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.13). Zynex had a net margin of 4.33% and a return on equity of 16.34%. The company had revenue of $47.28 million during the quarter, compared to analyst estimates of $54.53 million. During the same quarter last year, the business earned $0.20 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.

Hedge Funds Weigh In On Zynex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC raised its holdings in Zynex by 101.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 242,557 shares of the company’s stock valued at $3,000,000 after acquiring an additional 122,128 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in Zynex by 594.6% during the third quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock worth $1,830,000 after buying an additional 195,801 shares during the period. Bridge City Capital LLC boosted its stake in Zynex by 4.1% in the 1st quarter. Bridge City Capital LLC now owns 186,665 shares of the company’s stock worth $2,309,000 after buying an additional 7,270 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Zynex by 67.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 124,628 shares of the company’s stock worth $997,000 after buying an additional 50,106 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in Zynex by 46.4% in the 4th quarter. Trexquant Investment LP now owns 122,671 shares of the company’s stock valued at $1,336,000 after buying an additional 38,865 shares during the period. Institutional investors and hedge funds own 29.68% of the company’s stock.

Zynex Company Profile

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.