Royce & Associates LP Raises Holdings in Zynex, Inc. (NASDAQ:ZYXI)

Royce & Associates LP raised its position in Zynex, Inc. (NASDAQ:ZYXI) by 9.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 257,291 shares of the company’s stock after purchasing an additional 21,781 shares during the period. Royce & Associates LP’s holdings in Zynex were worth $2,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its position in shares of Zynex by 72.7% in the third quarter. GSA Capital Partners LLP now owns 79,930 shares of the company’s stock valued at $652,000 after buying an additional 33,649 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Zynex by 22.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 144,439 shares of the company’s stock worth $1,179,000 after purchasing an additional 26,368 shares in the last quarter. Investment Partners Asset Management Inc. acquired a new position in shares of Zynex during the 3rd quarter worth approximately $96,000. Cim LLC grew its position in shares of Zynex by 6.1% in 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. Finally, Millennium Management LLC increased its holdings in shares of Zynex by 66.5% in the second quarter. Millennium Management LLC now owns 297,082 shares of the company’s stock valued at $2,769,000 after purchasing an additional 118,615 shares during the last quarter. Institutional investors and hedge funds own 29.68% of the company’s stock.

Zynex Trading Up 0.1 %

ZYXI opened at $7.82 on Wednesday. The business’s 50 day moving average price is $8.23 and its 200 day moving average price is $8.82. The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.15 and a current ratio of 3.94. The stock has a market capitalization of $249.04 million, a PE ratio of 52.13 and a beta of 0.53. Zynex, Inc. has a one year low of $7.15 and a one year high of $13.77.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $49.97 million during the quarter, compared to analysts’ expectations of $50.83 million. Zynex had a return on equity of 13.05% and a net margin of 2.49%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. As a group, equities research analysts expect that Zynex, Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Zynex

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.59, for a total transaction of $85,900.00. Following the completion of the transaction, the chief financial officer now owns 44,878 shares of the company’s stock, valued at approximately $385,502.02. This trade represents a 18.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 24,000 shares of company stock worth $208,440 over the last three months. Insiders own 52.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ZYXI. Royal Bank of Canada lowered their price objective on Zynex from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. HC Wainwright raised their price objective on shares of Zynex from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, October 25th.

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.