Zynex (NASDAQ:ZYXI) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Zynex (NASDAQ:ZYXI) in a report issued on Friday morning,Benzinga reports. They currently have a $17.00 price objective on the stock.

Separately, Royal Bank of Canada reduced their price objective on Zynex from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th.

Zynex Stock Performance

Zynex stock opened at $8.13 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 3.94 and a quick ratio of 3.15. Zynex has a 12 month low of $7.15 and a 12 month high of $13.77. The company has a fifty day moving average price of $8.25 and a two-hundred day moving average price of $8.60. The company has a market cap of $258.94 million, a PE ratio of 54.20 and a beta of 0.49.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Zynex had a net margin of 2.49% and a return on equity of 13.05%. The business had revenue of $49.97 million during the quarter, compared to the consensus estimate of $50.83 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts expect that Zynex will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Zynex

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of Zynex stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.59, for a total transaction of $85,900.00. Following the sale, the chief financial officer now owns 44,878 shares of the company’s stock, valued at $385,502.02. The trade was a 18.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 34,000 shares of company stock valued at $289,240 in the last ninety days. Company insiders own 52.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP raised its stake in shares of Zynex by 53.4% during the third quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock valued at $41,000 after purchasing an additional 1,742 shares in the last quarter. Investment Partners Asset Management Inc. acquired a new position in Zynex during the 3rd quarter valued at about $96,000. Hsbc Holdings PLC bought a new stake in shares of Zynex during the 2nd quarter worth about $113,000. Quest Partners LLC lifted its stake in shares of Zynex by 646.7% in the 2nd quarter. Quest Partners LLC now owns 12,926 shares of the company’s stock worth $120,000 after acquiring an additional 11,195 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Zynex by 10.4% in the second quarter. Principal Financial Group Inc. now owns 19,525 shares of the company’s stock valued at $182,000 after acquiring an additional 1,846 shares in the last quarter. Institutional investors 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.