Zynex (NASDAQ:ZYXI) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Zynex (NASDAQ:ZYXI) in a research report report published on Wednesday, Benzinga reports. They currently have a $21.00 target price on the stock. HC Wainwright also issued estimates for Zynex’s Q2 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.30 EPS.

Separately, Royal Bank of Canada boosted their target price 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 Price Performance

ZYXI stock opened at $11.77 on Wednesday. The stock has a market capitalization of $378.64 million, a price-to-earnings ratio of 51.17 and a beta of 0.49. The company has a quick ratio of 4.03, a current ratio of 4.74 and a debt-to-equity ratio of 1.26. Zynex has a 52-week low of $6.88 and a 52-week high of $14.75. The stock’s fifty day simple moving average is $12.33 and its 200-day simple moving average is $10.83.

Zynex (NASDAQ:ZYXI) last released its earnings results on Thursday, February 29th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The business had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $54.53 million. Zynex had a return on equity of 14.68% and a net margin of 4.33%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Equities research analysts expect that Zynex will post 0.49 EPS for the current year.

Hedge Funds Weigh In On Zynex

Large investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. lifted its position in Zynex by 594.6% during the third quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock valued at $1,830,000 after buying an additional 195,801 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Zynex by 101.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 242,557 shares of the company’s stock valued at $3,000,000 after purchasing an additional 122,128 shares in the last quarter. LSV Asset Management purchased a new position in Zynex in the fourth quarter valued at about $818,000. Barclays PLC lifted its stake in shares of Zynex by 377.1% during the third quarter. Barclays PLC now owns 91,829 shares of the company’s stock worth $734,000 after purchasing an additional 72,581 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Zynex by 67.2% in the third quarter. Janney Montgomery Scott LLC now owns 124,628 shares of the company’s stock worth $997,000 after buying an additional 50,106 shares during the period. 29.68% of the stock is currently owned by hedge funds and other institutional investors.

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.