Zynex, Inc. (NASDAQ:ZYXI) Forecasted to Post Q3 2024 Earnings of $0.16 Per Share

Zynex, Inc. (NASDAQ:ZYXI) – Investment analysts at HC Wainwright lifted their Q3 2024 earnings per share (EPS) estimates for shares of Zynex in a report issued on Wednesday, May 1st. HC Wainwright analyst Y. Chen now expects that the company will earn $0.16 per share for the quarter, up from their prior forecast of $0.14. HC Wainwright currently has a “Buy” rating and a $21.00 target price on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.50 per share. HC Wainwright also issued estimates for Zynex’s Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $0.85 EPS.

Zynex (NASDAQ:ZYXI) last announced 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). Zynex had a return on equity of 16.34% and a net margin of 4.33%. The company had revenue of $47.28 million for the quarter, compared to the consensus estimate of $54.53 million. During the same period in the previous year, the company earned $0.20 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Separately, Royal Bank of Canada upped their target price on Zynex from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, March 1st.

Zynex Stock Down 4.7 %

ZYXI opened at $11.00 on Friday. Zynex has a 1-year low of $6.88 and a 1-year high of $13.77. The company has a current ratio of 3.58, a quick ratio of 4.03 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $349.47 million, a price-to-earnings ratio of 47.83 and a beta of 0.49. The business has a 50 day moving average of $12.31 and a 200-day moving average of $10.84.

Hedge Funds Weigh In On Zynex

Several hedge funds have recently added to or reduced their stakes in ZYXI. Exchange Traded Concepts LLC boosted its holdings in Zynex by 14.2% during the third quarter. Exchange Traded Concepts LLC now owns 44,619 shares of the company’s stock worth $357,000 after buying an additional 5,544 shares during the last quarter. Barclays PLC lifted its stake in Zynex by 377.1% in the 3rd quarter. Barclays PLC now owns 91,829 shares of the company’s stock valued at $734,000 after acquiring an additional 72,581 shares in the last quarter. Quantbot Technologies LP lifted its stake in Zynex by 41.6% in the 3rd quarter. Quantbot Technologies LP now owns 22,732 shares of the company’s stock valued at $182,000 after acquiring an additional 6,680 shares in the last quarter. Swiss National Bank lifted its stake in Zynex by 10.3% in the 3rd quarter. Swiss National Bank now owns 48,400 shares of the company’s stock valued at $387,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake 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. 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.