Zynex (NASDAQ:ZYXI) PT Lowered to $16.00 at HC Wainwright

Zynex (NASDAQ:ZYXI) had its price target lowered by analysts at HC Wainwright from $21.00 to $16.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 57.02% from the company’s current price.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Zynex in a report on Friday, June 14th.

Zynex Trading Up 1.1 %

NASDAQ ZYXI opened at $10.19 on Friday. The business’s 50-day moving average price is $9.59 and its two-hundred day moving average price is $11.07. Zynex has a 12 month low of $6.88 and a 12 month high of $13.77. The firm has a market capitalization of $323.74 million, a PE ratio of 44.30 and a beta of 0.53. The company has a current ratio of 3.58, a quick ratio of 2.87 and a debt-to-equity ratio of 1.76.

Zynex (NASDAQ:ZYXI) last announced its earnings results on Thursday, July 25th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). Zynex had a net margin of 4.33% and a return on equity of 16.34%. The business had revenue of $49.88 million for the quarter, compared to the consensus estimate of $51.99 million. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that Zynex will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Zynex

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Zynex by 358.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock valued at $81,000 after purchasing an additional 5,830 shares during the period. Mainstay Capital Management LLC ADV bought a new position in shares of Zynex in the fourth quarter worth $118,000. State Board of Administration of Florida Retirement System bought a new position in shares of Zynex in the first quarter worth $137,000. Principal Financial Group Inc. boosted its holdings in shares of Zynex by 56.4% in the first quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock worth $219,000 after acquiring an additional 6,378 shares during the period. Finally, BOKF NA bought a new position in shares of Zynex in the first quarter worth $246,000. 29.68% of the stock is owned by institutional investors.

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.