Zynex (NASDAQ:ZYXI) Price Target Cut to $11.00

Zynex (NASDAQ:ZYXI) had its price objective lowered by Royal Bank of Canada from $12.00 to $11.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $16.00 price target on shares of Zynex in a research report on Wednesday, September 4th.

Zynex Stock Performance

NASDAQ:ZYXI opened at $7.66 on Tuesday. The company has a market cap of $243.13 million, a price-to-earnings ratio of 42.11 and a beta of 0.54. Zynex has a fifty-two week low of $7.04 and a fifty-two week high of $13.77. The company has a debt-to-equity ratio of 1.79, a quick ratio of 3.22 and a current ratio of 4.06. The stock has a fifty day moving average price of $7.90 and a 200-day moving average price of $9.52.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.04 earnings per share 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 the consensus estimate of $51.99 million. Zynex had a return on equity of 14.15% and a net margin of 3.12%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. As a group, equities analysts anticipate that Zynex will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joshua R. Disbrow bought 7,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the completion of the transaction, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Zynex news, COO Anna Lucsok sold 8,083 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $8.03, for a total value of $64,906.49. Following the sale, the chief operating officer now owns 16,980 shares in the company, valued at approximately $136,349.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joshua R. Disbrow bought 7,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $8.32 per share, with a total value of $58,240.00. Following the transaction, the director now directly owns 72,000 shares in the company, valued at approximately $599,040. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 52.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zynex

A number of hedge funds have recently bought and sold shares of ZYXI. Congress Asset Management Co. MA raised its holdings in shares of Zynex by 1.0% during the first quarter. Congress Asset Management Co. MA now owns 118,376 shares of the company’s stock valued at $1,464,000 after purchasing an additional 1,225 shares during the period. Principal Financial Group Inc. raised its stake 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 buying an additional 1,846 shares during the period. Cim LLC boosted its holdings in Zynex by 6.1% in the second quarter. Cim LLC now owns 43,581 shares of the company’s stock worth $406,000 after acquiring an additional 2,508 shares in the last quarter. American Century Companies Inc. grew its stake in Zynex by 10.1% in the second quarter. American Century Companies Inc. now owns 31,159 shares of the company’s stock valued at $290,000 after acquiring an additional 2,864 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Zynex by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 192,832 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,954 shares during the period. 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.