Janney Montgomery Scott LLC Acquires 26,368 Shares of Zynex, Inc. (NASDAQ:ZYXI)

Janney Montgomery Scott LLC boosted its holdings in Zynex, Inc. (NASDAQ:ZYXI) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,439 shares of the company’s stock after purchasing an additional 26,368 shares during the period. Janney Montgomery Scott LLC owned approximately 0.45% of Zynex worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System bought a new stake in Zynex in the first quarter worth $137,000. Investment Partners Asset Management Inc. bought a new position in shares of Zynex during the third quarter valued at about $96,000. Hsbc Holdings PLC bought a new position in shares of Zynex during the second quarter valued at about $113,000. Quest Partners LLC raised its stake in shares of Zynex by 646.7% during the second quarter. Quest Partners LLC now owns 12,926 shares of the company’s stock valued at $120,000 after acquiring an additional 11,195 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake 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 valued at $182,000 after acquiring an additional 1,846 shares during the last quarter. 29.68% of the stock is owned by institutional investors.

Zynex Price Performance

ZYXI stock opened at $7.80 on Friday. Zynex, Inc. has a 1 year low of $7.15 and a 1 year high of $13.77. The company has a market cap of $248.40 million, a P/E ratio of 53.00 and a beta of 0.53. The firm has a 50-day moving average of $8.23 and a 200 day moving average of $8.91. The company has a debt-to-equity ratio of 1.66, a current ratio of 3.94 and a quick ratio of 3.15.

Zynex (NASDAQ:ZYXI) last released its quarterly 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. The company had revenue of $49.97 million during the quarter, compared to the consensus estimate of $50.83 million. Zynex had a net margin of 2.49% and a return on equity of 13.05%. Zynex’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, sell-side analysts forecast that Zynex, Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.59, for a total value of $85,900.00. Following the sale, the chief financial officer now owns 44,878 shares in the company, valued at approximately $385,502.02. This trade represents a 18.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 24,000 shares of company stock worth $208,440. 52.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZYXI. Royal Bank of Canada lowered 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. HC Wainwright upped their price objective on shares of Zynex from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, October 25th.

Zynex 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.