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

HC Wainwright reiterated their buy rating on shares of Zynex (NASDAQ:ZYXI) in a research report released on Wednesday morning, Benzinga reports. The brokerage 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 increased their price target on shares of Zynex from $13.00 to $15.00 and gave the company an outperform rating in a report on Friday, March 1st.

Zynex Stock Performance

Shares of NASDAQ:ZYXI opened at $11.00 on Wednesday. The company has a market cap of $349.47 million, a price-to-earnings ratio of 47.83 and a beta of 0.49. The company has a 50-day moving average price of $12.31 and a 200-day moving average price of $10.84. The company has a current ratio of 3.58, a quick ratio of 4.03 and a debt-to-equity ratio of 1.76. Zynex has a 12 month low of $6.88 and a 12 month high of $13.77.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $54.53 million. During the same period in the previous year, the company earned $0.20 earnings per share. Zynex’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Zynex will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. increased its stake in Zynex by 594.6% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock worth $1,830,000 after acquiring an additional 195,801 shares during the last quarter. Janney Montgomery Scott LLC increased 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 acquiring an additional 50,106 shares during the last quarter. Aigen Investment Management LP bought a new stake in Zynex in the 3rd quarter worth approximately $81,000. Barclays PLC increased its stake in Zynex by 377.1% in the 3rd quarter. Barclays PLC now owns 91,829 shares of the company’s stock worth $734,000 after acquiring an additional 72,581 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Zynex by 146.3% in the 3rd quarter. Trexquant Investment LP now owns 83,806 shares of the company’s stock worth $670,000 after acquiring an additional 49,775 shares during the last quarter. 29.68% of the stock is owned by hedge funds and other institutional investors.

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.