Royal Bank of Canada Cuts Zynex (NASDAQ:ZYXI) Price Target to $11.00

Zynex (NASDAQ:ZYXI) had its price objective trimmed by Royal Bank of Canada from $12.00 to $11.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, HC Wainwright reiterated a buy rating and issued a $16.00 price objective on shares of Zynex in a research report on Wednesday, September 4th.

Zynex Price Performance

Zynex stock opened at $7.66 on Tuesday. The business has a 50 day simple moving average of $7.90 and a 200 day simple moving average of $9.52. Zynex has a one year low of $7.04 and a one year high of $13.77. The company has a market capitalization of $243.13 million, a PE ratio of 42.11 and a beta of 0.54. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.06 and a quick ratio of 3.22.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings data 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 firm had revenue of $49.88 million for the quarter, compared to the consensus estimate of $51.99 million. During the same period in the prior year, the company posted $0.09 earnings per share. Zynex’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Zynex will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Zynex

In related news, Director Joshua R. Disbrow bought 7,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $8.32 per share, for a total transaction of $58,240.00. Following the acquisition, the director now owns 72,000 shares of the company’s stock, valued at approximately $599,040. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Joshua R. Disbrow purchased 7,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $8.32 per share, with a total value of $58,240.00. Following the purchase, the director now directly owns 72,000 shares of the company’s stock, valued at $599,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anna Lucsok sold 8,083 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $8.03, for a total value of $64,906.49. Following the transaction, the chief operating officer now directly owns 16,980 shares of the company’s stock, valued at $136,349.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.13% of the company’s stock.

Hedge Funds Weigh In On Zynex

A number of large investors have recently modified their holdings of ZYXI. State Board of Administration of Florida Retirement System acquired a new stake in shares of Zynex in the 1st quarter valued at approximately $137,000. Hsbc Holdings PLC acquired a new stake in Zynex in the second quarter valued at $113,000. Quest Partners LLC grew its position in shares of 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 period. Principal Financial Group Inc. increased 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 last quarter. Finally, BOKF NA bought a new stake in shares of Zynex in the 1st quarter valued at about $246,000. 29.68% of the stock is currently owned by institutional investors and hedge funds.

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.