HC Wainwright Reiterates “Buy” Rating for Zynex (NASDAQ:ZYXI)

Zynex (NASDAQ:ZYXI)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $17.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 109.10% from the company’s current price.

Separately, Royal Bank of Canada decreased their price objective on shares of Zynex from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th.

Zynex Price Performance

ZYXI opened at $8.13 on Friday. Zynex has a 1 year low of $7.15 and a 1 year high of $13.77. The company’s 50 day simple moving average is $8.25 and its 200 day simple moving average is $8.58. The stock has a market capitalization of $258.94 million, a PE ratio of 54.20 and a beta of 0.49. The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.15 and a current ratio of 3.94.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $49.97 million for the quarter, compared to analyst estimates of $50.83 million. Zynex had a net margin of 2.49% and a return on equity of 13.05%. Zynex’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. As a group, sell-side analysts expect that Zynex will post 0.2 EPS for the current year.

Insider Activity

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $8.08, for a total value of $80,800.00. Following the completion of the transaction, the chief financial officer now owns 35,190 shares in the company, valued at $284,335.20. This represents a 22.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 34,000 shares of company stock worth $289,240. 52.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Zynex

Hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP increased its stake in Zynex by 53.4% during the 3rd quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock worth $41,000 after buying an additional 1,742 shares during the period. Principal Financial Group Inc. increased its position in shares of Zynex by 10.4% during the second quarter. Principal Financial Group Inc. now owns 19,525 shares of the company’s stock worth $182,000 after acquiring an additional 1,846 shares during the last quarter. Jane Street Group LLC increased its position in shares of Zynex by 8.9% during the third quarter. Jane Street Group LLC now owns 23,530 shares of the company’s stock worth $192,000 after acquiring an additional 1,929 shares during the last quarter. Cim LLC lifted its stake in shares of Zynex by 6.1% in the second quarter. Cim LLC now owns 43,581 shares of the company’s stock worth $406,000 after acquiring an additional 2,508 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Zynex by 10.1% in the second quarter. American Century Companies Inc. now owns 31,159 shares of the company’s stock valued at $290,000 after purchasing an additional 2,864 shares during the last quarter. Hedge funds and other institutional investors 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.