Zynex (NASDAQ:ZYXI) Price Target Lowered to $12.00 at Royal Bank of Canada

Zynex (NASDAQ:ZYXI) had its price target lowered by Royal Bank of Canada from $15.00 to $12.00 in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, HC Wainwright cut their target price on shares of Zynex from $21.00 to $16.00 and set a buy rating on the stock in a research note on Friday.

Zynex Stock Performance

Shares of ZYXI stock opened at $8.93 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 3.58 and a quick ratio of 2.87. The company’s fifty day moving average price is $9.55 and its two-hundred day moving average price is $11.06. The firm has a market capitalization of $283.71 million, a P/E ratio of 38.83 and a beta of 0.53. Zynex has a 12 month low of $6.88 and a 12 month high of $13.77.

Zynex (NASDAQ:ZYXI) last released its quarterly 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 return on equity of 13.14% and a net margin of 3.12%. The business had revenue of $49.88 million during the quarter, compared to analyst estimates of $51.99 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Zynex will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zynex

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Zynex by 358.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock valued at $81,000 after acquiring an additional 5,830 shares during the period. Mainstay Capital Management LLC ADV bought a new stake in shares of Zynex in the 4th quarter worth approximately $118,000. State Board of Administration of Florida Retirement System acquired a new position in Zynex during the 1st quarter valued at approximately $137,000. Principal Financial Group Inc. grew its stake in Zynex by 56.4% during the 1st quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock worth $219,000 after buying an additional 6,378 shares during the last quarter. Finally, BOKF NA bought a new position in Zynex during the 1st quarter worth $246,000. 29.68% of the stock is currently 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.