HC Wainwright Comments on Zynex, Inc.’s Q2 2024 Earnings (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI) – HC Wainwright cut their Q2 2024 earnings per share (EPS) estimates for Zynex in a research note issued to investors on Wednesday, May 1st. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.09. HC Wainwright has a “Buy” rating and a $21.00 price objective on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.49 per share. HC Wainwright also issued estimates for Zynex’s 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 Zynex from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, March 1st.

Zynex Price Performance

Shares of NASDAQ ZYXI opened at $11.54 on Thursday. The firm has a market capitalization of $371.24 million, a P/E ratio of 50.17 and a beta of 0.49. The firm’s 50-day moving average price is $12.31 and its 200-day moving average price is $10.84. The company has a current ratio of 4.74, a quick ratio of 4.03 and a debt-to-equity ratio of 1.26. Zynex has a 1-year low of $6.88 and a 1-year high of $14.75.

Zynex (NASDAQ:ZYXI) last released its earnings results on Thursday, February 29th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $47.28 million for the quarter, compared to analyst estimates of $54.53 million. Zynex had a net margin of 4.33% and a return on equity of 14.68%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS.

Hedge Funds Weigh In On Zynex

A number of large investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. raised its holdings in Zynex by 594.6% during the third quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock worth $1,830,000 after buying an additional 195,801 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Zynex by 67.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 124,628 shares of the company’s stock valued at $997,000 after acquiring an additional 50,106 shares in the last quarter. Aigen Investment Management LP acquired a new position in Zynex during the 3rd quarter valued at about $81,000. Barclays PLC increased its holdings in Zynex by 377.1% during the 3rd 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, Trexquant Investment LP increased its holdings in Zynex by 146.3% during the 3rd quarter. Trexquant Investment LP now owns 83,806 shares of the company’s stock worth $670,000 after purchasing an additional 49,775 shares in the last quarter. 29.68% of the stock is currently 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.