HC Wainwright Reaffirms Buy Rating for Zynex (NASDAQ:ZYXI)

HC Wainwright restated their buy rating on shares of Zynex (NASDAQ:ZYXI) in a research note released on Wednesday, Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Royal Bank of Canada reduced their price target on shares of Zynex from $15.00 to $12.00 and set an outperform rating for the company in a research report on Friday, July 26th.

Zynex Price Performance

Zynex stock opened at $7.84 on Wednesday. The stock has a market cap of $249.12 million, a P/E ratio of 34.09 and a beta of 0.54. The company has a fifty day simple moving average of $8.54 and a 200-day simple moving average of $10.33. The company has a current ratio of 4.06, a quick ratio of 3.22 and a debt-to-equity ratio of 1.79. Zynex has a 12-month low of $6.88 and a 12-month high of $13.77.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). Zynex had a return on equity of 14.15% and a net margin of 3.12%. The business had revenue of $49.88 million for the quarter, compared to analysts’ expectations of $51.99 million. Zynex’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. Equities analysts expect that Zynex will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Joshua R. Disbrow bought 7,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $8.32 per share, with a total value of $58,240.00. Following the completion of the acquisition, the director now owns 72,000 shares in the company, valued at approximately $599,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Anna Lucsok sold 8,083 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total value of $64,906.49. Following the sale, the chief operating officer now directly owns 16,980 shares of the company’s stock, valued at approximately $136,349.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joshua R. Disbrow bought 7,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were acquired at an average price of $8.32 per share, with a total value of $58,240.00. Following the completion of the acquisition, the director now directly owns 72,000 shares in the company, valued at approximately $599,040. The disclosure for this purchase can be found here. Insiders own 52.13% of the company’s stock.

Hedge Funds Weigh In On Zynex

Hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System purchased a new stake in shares of Zynex during the first quarter worth about $137,000. Hsbc Holdings PLC acquired a new position in Zynex in the 2nd quarter valued at $113,000. Quest Partners LLC raised its holdings in Zynex by 646.7% in the 2nd quarter. Quest Partners LLC now owns 12,926 shares of the company’s stock valued at $120,000 after acquiring an additional 11,195 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Zynex by 56.4% during the 1st quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock worth $219,000 after purchasing an additional 6,378 shares during the period. Finally, BOKF NA acquired a new stake in shares of Zynex during the first quarter worth $246,000. Hedge funds and other 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.