HC Wainwright Boosts Zynex (NASDAQ:ZYXI) Price Target to $17.00

Zynex (NASDAQ:ZYXI) had its target price lifted by equities researchers at HC Wainwright from $16.00 to $17.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 97.90% from the stock’s current price.

Separately, Royal Bank of Canada dropped their target price on shares of Zynex from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th.

Zynex Stock Performance

Shares of NASDAQ ZYXI opened at $8.59 on Friday. The business’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $9.23. The company has a debt-to-equity ratio of 1.79, a quick ratio of 3.22 and a current ratio of 4.06. Zynex has a 52 week low of $7.04 and a 52 week high of $13.77. The firm has a market cap of $272.65 million, a price-to-earnings ratio of 47.72 and a beta of 0.54.

Zynex (NASDAQ:ZYXI) last announced its earnings results on Thursday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Zynex had a return on equity of 14.15% and a net margin of 3.12%. The firm had revenue of $49.97 million during the quarter, compared to analysts’ expectations of $50.83 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that Zynex will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Zynex

In other Zynex news, Director Joshua R. Disbrow purchased 7,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $8.32 per share, with a total value of $58,240.00. Following the transaction, the director now directly owns 72,000 shares in the company, valued at approximately $599,040. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zynex news, COO Anna Lucsok sold 8,083 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total value of $64,906.49. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua R. Disbrow purchased 7,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was bought at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the completion of the transaction, the director now directly owns 72,000 shares in the company, valued at approximately $599,040. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 52.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Zynex by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,187,089 shares of the company’s stock valued at $14,684,000 after acquiring an additional 6,097 shares during the period. Millennium Management LLC grew its holdings in shares of Zynex by 66.5% during the 2nd quarter. Millennium Management LLC now owns 297,082 shares of the company’s stock worth $2,769,000 after purchasing an additional 118,615 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Zynex by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 192,832 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,954 shares during the period. Renaissance Technologies LLC raised its stake in shares of Zynex by 68.7% in the second quarter. Renaissance Technologies LLC now owns 189,762 shares of the company’s stock valued at $1,769,000 after purchasing an additional 77,300 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Zynex by 45.1% in the first quarter. LSV Asset Management now owns 108,935 shares of the company’s stock valued at $1,348,000 after purchasing an additional 33,840 shares in the last quarter. Institutional investors and hedge funds own 29.68% of the company’s stock.

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.