Zynex (NASDAQ:ZYXI) Given “Buy” Rating at HC Wainwright

Zynex (NASDAQ:ZYXI)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Thursday, TipRanks reports. They presently have a $22.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 75.72% from the company’s current price.

A number of other research analysts have also commented on the stock. Northland Securities reiterated a “buy” rating and issued a $22.50 price target on shares of Zynex in a research note on Friday, July 16th. Zacks Investment Research upgraded shares of Zynex from a “sell” rating to a “hold” rating in a research note on Thursday, September 30th. Finally, B. Riley upgraded shares of Zynex from a “neutral” rating to a “buy” rating and increased their target price for the stock from $19.00 to $19.50 in a research report on Friday, July 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.60.

ZYXI traded up $0.97 during trading on Thursday, hitting $12.52. The company had a trading volume of 6,640 shares, compared to its average volume of 399,129. The firm’s 50-day moving average price is $12.78 and its 200 day moving average price is $14.46. The company has a quick ratio of 5.83, a current ratio of 6.95 and a debt-to-equity ratio of 0.01. Zynex has a one year low of $10.66 and a one year high of $22.89. The company has a market capitalization of $435.20 million, a PE ratio of 83.40 and a beta of 0.85.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings data on Thursday, July 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $31.02 million for the quarter, compared to analyst estimates of $31.23 million. Zynex had a net margin of 5.18% and a return on equity of 9.30%. Sell-side analysts forecast that Zynex will post 0.34 earnings per share for the current year.

In other news, CEO Thomas Sandgaard sold 177,320 shares of the stock in a transaction on Friday, August 6th. The shares were sold at an average price of $15.17, for a total transaction of $2,689,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 44.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors lifted its stake in shares of Zynex by 5,705.7% in the first quarter. Captrust Financial Advisors now owns 2,032 shares of the company’s stock valued at $31,000 after buying an additional 1,997 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Zynex by 24.8% during the first quarter. Bank of Montreal Can now owns 5,938 shares of the company’s stock valued at $90,000 after purchasing an additional 1,179 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of Zynex by 18.1% during the first quarter. State of Tennessee Treasury Department now owns 6,946 shares of the company’s stock valued at $106,000 after purchasing an additional 1,065 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Zynex by 87.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,195 shares of the company’s stock valued at $112,000 after purchasing an additional 3,349 shares in the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in shares of Zynex during the second quarter valued at about $120,000. Institutional investors and hedge funds own 31.02% of the company’s stock.

About Zynex

Zynex, Inc engages in the design, manufacture, and marketing of medical devices. It sells electrotherapy medical devices used for pain management and rehabilitation. The company also develops a new blood volume monitor for use in hospitals and surgery centers. Zynex was founded by Thomas Sandgaard in 1996 and is headquartered in Englewood, CO.

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