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

HC Wainwright restated their buy rating on shares of Zynex (NASDAQ:ZYXI) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $16.00 price objective on the stock.

Separately, Royal Bank of Canada cut their target price on shares of Zynex from $15.00 to $12.00 and set an outperform rating on the stock in a research note on Friday, July 26th.

Zynex Price Performance

Zynex stock opened at $7.84 on Wednesday. The firm has a 50 day moving average price of $8.54 and a 200 day moving average price of $10.33. The company has a market cap of $249.12 million, a price-to-earnings ratio of 34.09 and a beta of 0.54. The company has a debt-to-equity ratio of 1.79, a quick ratio of 3.22 and a current ratio of 4.06. Zynex has a 1 year low of $6.88 and a 1 year high of $13.77.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The business had revenue of $49.88 million for the quarter, compared to analyst estimates of $51.99 million. Zynex had a return on equity of 14.15% and a net margin of 3.12%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. Sell-side analysts predict that Zynex will post 0.22 earnings per share for the current year.

Insider Activity

In other news, COO Anna Lucsok sold 8,083 shares of Zynex stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total transaction of $64,906.49. Following the sale, the chief operating officer now owns 16,980 shares in the company, valued at $136,349.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Anna Lucsok sold 8,083 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $8.03, for a total transaction of $64,906.49. Following the completion of the sale, the chief operating officer now directly owns 16,980 shares in the company, valued at $136,349.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joshua R. Disbrow purchased 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the purchase, the director now owns 72,000 shares of the company’s stock, valued at approximately $599,040. The disclosure for this purchase can be found here. Insiders own 52.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. MA raised its position in shares of Zynex by 1.0% during the 1st quarter. Congress Asset Management Co. MA now owns 118,376 shares of the company’s stock worth $1,464,000 after purchasing an additional 1,225 shares during the period. Principal Financial Group Inc. boosted its position in Zynex by 10.4% during the 2nd quarter. Principal Financial Group Inc. now owns 19,525 shares of the company’s stock worth $182,000 after acquiring an additional 1,846 shares during the period. Cim LLC raised its stake in shares of Zynex by 6.1% during the second quarter. Cim LLC now owns 43,581 shares of the company’s stock valued at $406,000 after purchasing an additional 2,508 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Zynex by 10.1% during the second quarter. American Century Companies Inc. now owns 31,159 shares of the company’s stock valued at $290,000 after purchasing an additional 2,864 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Zynex by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 192,832 shares of the company’s stock valued at $1,797,000 after buying an additional 2,954 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.