Q3 2024 Earnings Forecast for Zynex, Inc. (NASDAQ:ZYXI) Issued By HC Wainwright

Zynex, Inc. (NASDAQ:ZYXI) – Equities research analysts at HC Wainwright increased their Q3 2024 earnings per share (EPS) estimates for shares of Zynex in a report issued on Wednesday, May 1st. HC Wainwright analyst Y. Chen now anticipates that the company will earn $0.16 per share for the quarter, up from their previous forecast of $0.14. HC Wainwright currently has a “Buy” rating and a $21.00 price target 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 Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $0.85 EPS.

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

Zynex Stock Performance

ZYXI stock opened at $11.00 on Friday. The firm has a market cap of $349.47 million, a PE ratio of 47.83 and a beta of 0.49. Zynex has a 1-year low of $6.88 and a 1-year high of $13.77. The stock has a 50-day moving average price of $12.31 and a 200-day moving average price of $10.84. The company has a current ratio of 3.58, a quick ratio of 4.03 and a debt-to-equity ratio of 1.76.

Zynex (NASDAQ:ZYXI) last issued its 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). The firm had revenue of $47.28 million during the quarter, compared to analyst estimates of $54.53 million. Zynex had a return on equity of 16.34% and a net margin of 4.33%. Zynex’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYXI. Rice Hall James & Associates LLC boosted its stake in Zynex by 101.4% in the first quarter. Rice Hall James & Associates LLC now owns 242,557 shares of the company’s stock valued at $3,000,000 after acquiring an additional 122,128 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Zynex by 594.6% in the third quarter. Jupiter Asset Management Ltd. now owns 228,733 shares of the company’s stock valued at $1,830,000 after purchasing an additional 195,801 shares in the last quarter. Bridge City Capital LLC boosted its stake in Zynex by 4.1% in the 1st quarter. Bridge City Capital LLC now owns 186,665 shares of the company’s stock worth $2,309,000 after purchasing an additional 7,270 shares during the period. Janney Montgomery Scott LLC lifted its stake in 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. Finally, Trexquant Investment LP increased its holdings in shares of Zynex by 46.4% in the fourth quarter. Trexquant Investment LP now owns 122,671 shares of the company’s stock worth $1,336,000 after purchasing an additional 38,865 shares during the period. 29.68% of the stock is currently owned by hedge funds and other 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.