Zynex (NASDAQ:ZYXI) Lowered to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of Zynex (NASDAQ:ZYXI) from an outperform rating to a sector perform rating in a report issued on Wednesday, Marketbeat reports. They currently have $5.50 price target on the stock, down from their prior price target of $11.00.

A number of other research analysts have also recently issued reports on ZYXI. LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Zynex in a research note on Friday, December 6th.

Zynex Stock Down 51.3 %

NASDAQ ZYXI opened at $3.41 on Wednesday. The company has a current ratio of 3.94, a quick ratio of 3.15 and a debt-to-equity ratio of 1.66. Zynex has a 1-year low of $3.17 and a 1-year high of $13.19. The company has a 50 day moving average of $7.62 and a 200-day moving average of $7.98. The company has a market cap of $108.59 million, a price-to-earnings ratio of 22.73 and a beta of 0.81.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). The firm had revenue of $45.98 million during the quarter, compared to the consensus estimate of $53.65 million. Zynex had a net margin of 2.49% and a return on equity of 13.05%. During the same period last year, the business earned $0.04 earnings per share. On average, equities research analysts expect that Zynex will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $7.15, for a total transaction of $71,500.00. Following the sale, the chief financial officer now owns 10,050 shares of the company’s stock, valued at approximately $71,857.50. The trade was a 49.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $227,100. 52.13% of the stock is currently owned by insiders.

Institutional Trading of Zynex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Partners Asset Management Inc. grew its stake in shares of Zynex by 10.4% during the fourth quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock worth $104,000 after buying an additional 1,220 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zynex by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 40,985 shares of the company’s stock worth $334,000 after buying an additional 1,318 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Zynex by 6.2% during the fourth quarter. Bank of America Corp DE now owns 24,114 shares of the company’s stock worth $193,000 after purchasing an additional 1,407 shares during the period. American Century Companies Inc. lifted its holdings in shares of Zynex by 4.4% during the fourth quarter. American Century Companies Inc. now owns 35,696 shares of the company’s stock worth $286,000 after purchasing an additional 1,516 shares during the period. Finally, Connors Investor Services Inc. lifted its holdings in shares of Zynex by 5.7% during the fourth quarter. Connors Investor Services Inc. now owns 29,858 shares of the company’s stock worth $239,000 after purchasing an additional 1,608 shares during the period. Institutional investors own 29.68% of the company’s stock.

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.