Zynex (NASDAQ:ZYXI) Given New $11.00 Price Target at Royal Bank of Canada

Zynex (NASDAQ:ZYXI) had its price objective cut by investment analysts at Royal Bank of Canada from $12.00 to $11.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 42.49% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Zynex in a report on Wednesday, September 4th.

Zynex Price Performance

ZYXI traded down $0.06 on Tuesday, reaching $7.72. The company had a trading volume of 118,988 shares, compared to its average volume of 177,544. The company has a fifty day moving average of $7.96 and a 200-day moving average of $9.62. The company has a current ratio of 4.06, a quick ratio of 3.22 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $245.03 million, a P/E ratio of 33.35 and a beta of 0.54. Zynex has a one year low of $7.04 and a one year high of $13.77.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Zynex had a net margin of 3.12% and a return on equity of 14.15%. The firm had revenue of $49.88 million for the quarter, compared to analyst estimates of $51.99 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Zynex will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joshua R. Disbrow bought 7,000 shares of Zynex stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $8.32 per share, for a total transaction of $58,240.00. Following the completion of the acquisition, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Zynex news, COO Anna Lucsok sold 8,083 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 16,980 shares of the company’s stock, valued at $136,349.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua R. Disbrow purchased 7,000 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the transaction, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. This represents 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 currently owned by company insiders.

Hedge Funds Weigh In On Zynex

A number of large investors have recently bought and sold shares of ZYXI. Vanguard Group Inc. raised its holdings in Zynex by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,187,089 shares of the company’s stock worth $14,684,000 after purchasing an additional 6,097 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Zynex by 66.5% during the second quarter. Millennium Management LLC now owns 297,082 shares of the company’s stock valued at $2,769,000 after purchasing an additional 118,615 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 2,954 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Zynex by 68.7% in the 2nd quarter. Renaissance Technologies LLC now owns 189,762 shares of the company’s stock worth $1,769,000 after acquiring an additional 77,300 shares during the last quarter. Finally, Bridge City Capital LLC lifted its holdings in shares of Zynex by 4.1% during the first quarter. Bridge City Capital LLC now owns 186,665 shares of the company’s stock valued at $2,309,000 after purchasing an additional 7,270 shares in the last quarter. 29.68% of the stock is 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.