Zynex (NASDAQ:ZYXI) Releases FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.200- for the period, compared to the consensus estimate of 0.200. The company issued revenue guidance of $200.0 million-, compared to the consensus revenue estimate of $200.5 million. Zynex also updated its Q4 guidance to at least $0.09 EPS.

Zynex Stock Performance

NASDAQ ZYXI traded up $0.23 during midday trading on Thursday, hitting $8.59. The company had a trading volume of 151,003 shares, compared to its average volume of 173,447. The company has a quick ratio of 3.22, a current ratio of 4.06 and a debt-to-equity ratio of 1.79. The stock has a market cap of $272.65 million, a price-to-earnings ratio of 47.72 and a beta of 0.54. The firm has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $9.23. Zynex has a fifty-two week low of $7.04 and a fifty-two week high of $13.77.

Zynex (NASDAQ:ZYXI) last issued 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 net margin of 3.12% and a return on equity of 14.15%. The business had revenue of $49.88 million for the quarter, compared to analyst estimates of $51.99 million. During the same quarter last year, the firm posted $0.09 earnings per share. Zynex’s revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Zynex will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZYXI shares. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Zynex in a research report on Wednesday, September 4th. Royal Bank of Canada decreased their target price on shares of Zynex from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th.

Insider Activity at Zynex

In other news, Director Joshua R. Disbrow purchased 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $8.32 per share, with a total value of $58,240.00. Following the acquisition, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Joshua R. Disbrow purchased 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $8.32 per share, with a total value of $58,240.00. Following the acquisition, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Anna Lucsok sold 8,083 shares of Zynex stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total transaction 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. 52.13% of the stock is currently owned by insiders.

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.