Zynex (NASDAQ:ZYXI) Rating Reiterated by HC Wainwright

Zynex (NASDAQ:ZYXI)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 91.43% from the company’s current price.

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

Zynex Stock Down 4.2 %

Shares of NASDAQ:ZYXI opened at $10.97 on Wednesday. Zynex has a 1 year low of $6.88 and a 1 year high of $14.75. The company has a market cap of $352.90 million, a PE ratio of 40.63 and a beta of 0.48. The company has a debt-to-equity ratio of 1.26, a current ratio of 4.74 and a quick ratio of 4.03. The stock’s 50-day moving average is $12.35 and its 200 day moving average is $10.83.

Zynex (NASDAQ:ZYXI) last announced its quarterly 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 net margin of 5.28% and a return on equity of 16.82%. The business had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $54.53 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts anticipate that Zynex will post 0.49 EPS for the current year.

Institutional Trading of Zynex

A number of hedge funds have recently made changes to their positions in ZYXI. Jupiter Asset Management Ltd. boosted its position in shares of Zynex by 594.6% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock worth $1,830,000 after purchasing an additional 195,801 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Zynex by 101.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 242,557 shares of the company’s stock worth $3,000,000 after purchasing an additional 122,128 shares in the last quarter. LSV Asset Management bought a new stake in shares of Zynex in the 4th quarter worth approximately $818,000. Barclays PLC boosted its position in shares of Zynex by 377.1% in the 3rd quarter. Barclays PLC now owns 91,829 shares of the company’s stock worth $734,000 after purchasing an additional 72,581 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Zynex by 67.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 124,628 shares of the company’s stock worth $997,000 after purchasing an additional 50,106 shares in the last quarter. 29.68% of the stock is owned by institutional investors.

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.