HC Wainwright Reaffirms Buy Rating for Zynex (NASDAQ:ZYXI)

HC Wainwright reaffirmed their buy rating on shares of Zynex (NASDAQ:ZYXI) in a research note published on Wednesday morning, Benzinga reports. They currently have a $21.00 price target 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 boosted their price objective on shares of Zynex from $13.00 to $15.00 and gave the stock an outperform rating in a report on Friday, March 1st.

Zynex Stock Performance

NASDAQ:ZYXI opened at $11.00 on Wednesday. The firm’s 50-day moving average is $12.31 and its 200-day moving average is $10.84. Zynex has a 52-week low of $6.88 and a 52-week high of $13.77. The company has a debt-to-equity ratio of 1.76, a quick ratio of 4.03 and a current ratio of 3.58. The company has a market cap of $349.47 million, a price-to-earnings ratio of 47.83 and a beta of 0.49.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data 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 company 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 firm posted $0.20 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts anticipate that Zynex will post 0.5 earnings per share for the current year.

Institutional Trading of Zynex

Institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP acquired a new position in Zynex in the third quarter valued at about $81,000. Tower Research Capital LLC TRC boosted its position in Zynex by 358.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock valued at $81,000 after buying an additional 5,830 shares in the last quarter. Mainstay Capital Management LLC ADV acquired a new position in Zynex in the fourth quarter valued at about $118,000. Quantbot Technologies LP boosted its position in Zynex by 41.6% in the third quarter. Quantbot Technologies LP now owns 22,732 shares of the company’s stock valued at $182,000 after buying an additional 6,680 shares in the last quarter. Finally, Connors Investor Services Inc. boosted its position in Zynex by 4.3% in the third quarter. Connors Investor Services Inc. now owns 24,250 shares of the company’s stock valued at $194,000 after buying an additional 1,000 shares in the last quarter. 29.68% of the stock is currently owned by institutional investors and hedge funds.

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.