HC Wainwright Weighs in on Zynex, Inc.’s Q2 2024 Earnings (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI) – Analysts at HC Wainwright reduced their Q2 2024 earnings estimates for Zynex in a research note issued to investors on Wednesday, May 1st. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.09. HC Wainwright currently has a “Buy” rating and a $21.00 target price on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.50 per share. HC Wainwright also issued estimates for Zynex’s Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.30 EPS.

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

Zynex Stock Performance

Shares of NASDAQ:ZYXI opened at $11.00 on Thursday. The company has a market capitalization of $349.47 million, a price-to-earnings ratio of 47.83 and a beta of 0.49. Zynex has a 52 week low of $6.88 and a 52 week high of $13.77. The company has a quick ratio of 4.03, a current ratio of 3.58 and a debt-to-equity ratio of 1.76. The firm has a 50 day moving average of $12.31 and a 200 day moving average of $10.84.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The business had revenue of $47.28 million during the quarter, compared to the consensus estimate of $54.53 million. Zynex had a return on equity of 16.34% and a net margin of 4.33%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS.

Institutional Investors Weigh In On Zynex

Several hedge funds have recently added to or reduced their stakes in the business. Connors Investor Services Inc. raised its position in shares of Zynex by 4.3% in the third quarter. Connors Investor Services Inc. now owns 24,250 shares of the company’s stock worth $194,000 after acquiring an additional 1,000 shares during the period. Congress Asset Management Co. MA raised its position in shares of Zynex by 1.0% in the first quarter. Congress Asset Management Co. MA now owns 118,376 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,225 shares during the period. Swiss National Bank raised its position in shares of Zynex by 10.3% in the third quarter. Swiss National Bank now owns 48,400 shares of the company’s stock worth $387,000 after acquiring an additional 4,500 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Zynex by 14.2% in the third quarter. Exchange Traded Concepts LLC now owns 44,619 shares of the company’s stock worth $357,000 after acquiring an additional 5,544 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Zynex by 358.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock worth $81,000 after acquiring an additional 5,830 shares during the period. 29.68% of the stock is owned by hedge funds and other institutional investors.

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.