Zynex (NASDAQ:ZYXI) Releases Q3 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.050- for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $50.0 million-, compared to the consensus revenue estimate of $60.2 million. Zynex also updated its FY 2024 guidance to 0.200- EPS.

Zynex Trading Down 12.4 %

Shares of ZYXI stock traded down $1.26 during trading on Friday, hitting $8.93. 1,034,596 shares of the stock traded hands, compared to its average volume of 124,147. The firm has a market capitalization of $283.71 million, a P/E ratio of 38.83 and a beta of 0.53. The company has a debt-to-equity ratio of 1.76, a current ratio of 3.58 and a quick ratio of 2.87. The firm’s fifty day moving average price is $9.55 and its 200-day moving average price is $11.06. Zynex has a 52-week low of $6.88 and a 52-week high of $13.77.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The firm had revenue of $49.88 million for the quarter, compared to analysts’ expectations of $51.99 million. Zynex had a net margin of 3.12% and a return on equity of 13.14%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, research analysts forecast that Zynex will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ZYXI shares. HC Wainwright dropped their target price on shares of Zynex from $21.00 to $16.00 and set a buy rating for the company in a report on Friday. Royal Bank of Canada dropped their target price on shares of Zynex from $15.00 to $12.00 and set an outperform rating for the company in a report on Friday.

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.