Zynex’s (ZYXI) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Zynex (NASDAQ:ZYXI) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $17.00 target price on the stock.

Separately, Royal Bank of Canada dropped their price objective on Zynex from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th.

Zynex Stock Up 2.4 %

ZYXI stock opened at $8.13 on Friday. Zynex has a twelve month low of $7.15 and a twelve month high of $13.77. The company has a quick ratio of 3.15, a current ratio of 3.94 and a debt-to-equity ratio of 1.66. The company has a market cap of $258.94 million, a PE ratio of 54.20 and a beta of 0.49. The business’s 50-day simple moving average is $8.25 and its 200 day simple moving average is $8.57.

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

Insiders Place Their Bets

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $8.08, for a total transaction of $80,800.00. Following the completion of the sale, the chief financial officer now owns 35,190 shares in the company, valued at approximately $284,335.20. The trade was a 22.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 34,000 shares of company stock valued at $289,240. 52.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zynex

A number of hedge funds and other institutional investors have recently made changes to their positions in ZYXI. Vanguard Group Inc. lifted its holdings in shares of Zynex by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,187,089 shares of the company’s stock valued at $14,684,000 after purchasing an additional 6,097 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Zynex by 24.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 746,380 shares of the company’s stock valued at $6,090,000 after buying an additional 147,770 shares in the last quarter. Geode Capital Management LLC lifted its stake in Zynex by 6.7% in the third quarter. Geode Capital Management LLC now owns 425,509 shares of the company’s stock valued at $3,473,000 after buying an additional 26,774 shares in the last quarter. Millennium Management LLC increased its position in shares of Zynex by 66.5% during the second quarter. Millennium Management LLC now owns 297,082 shares of the company’s stock worth $2,769,000 after acquiring an additional 118,615 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Zynex by 9.2% during the third quarter. Royce & Associates LP now owns 257,291 shares of the company’s stock worth $2,099,000 after acquiring an additional 21,781 shares during the period. 29.68% of the stock is owned by institutional investors.

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.