Zynex (NASDAQ:ZYXI) Price Target Raised to $17.00

Zynex (NASDAQ:ZYXI - Get Free Report) had its price target boosted by research analysts at HC Wainwright from $16.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 86.40% from the stock's current price.

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

Zynex Price Performance

NASDAQ:ZYXI traded up $0.53 during midday trading on Friday, hitting $9.12. The company had a trading volume of 264,477 shares, compared to its average volume of 173,892. The stock's fifty day moving average price is $8.01 and its 200-day moving average price is $9.20. The company has a quick ratio of 3.22, a current ratio of 4.06 and a debt-to-equity ratio of 1.79. Zynex has a 52-week low of $7.04 and a 52-week high of $13.77. The company has a market capitalization of $289.47 million, a PE ratio of 50.67 and a beta of 0.54.

Zynex (NASDAQ:ZYXI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Zynex had a net margin of 3.12% and a return on equity of 14.15%. The business had revenue of $49.97 million for the quarter, compared to analysts' expectations of $50.83 million. During the same quarter last year, the company posted $0.10 EPS. The company's revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Zynex will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Zynex

In other news, COO Anna Lucsok sold 8,083 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $8.03, for a total transaction of $64,906.49. Following the completion of the transaction, the chief operating officer now directly owns 16,980 shares in the company, valued at $136,349.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zynex news, Director Joshua R. Disbrow acquired 7,000 shares of the company's stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average cost of $8.32 per share, for a total transaction of $58,240.00. Following the transaction, the director now directly owns 72,000 shares in the company, valued at $599,040. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Anna Lucsok sold 8,083 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 16,980 shares of the company's stock, valued at approximately $136,349.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 52.13% of the stock is currently owned by company insiders.

Institutional Trading of Zynex

A number of large investors have recently bought and sold shares of ZYXI. Investment Partners Asset Management Inc. purchased a new position in shares of Zynex in the third quarter worth about $96,000. Cim LLC increased its stake in shares of Zynex by 6.1% in the 2nd quarter. Cim LLC now owns 43,581 shares of the company's stock worth $406,000 after purchasing an additional 2,508 shares in the last quarter. Millennium Management LLC increased its stake in Zynex by 66.5% in the 2nd quarter. Millennium Management LLC now owns 297,082 shares of the company's stock worth $2,769,000 after buying an additional 118,615 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Zynex by 32.3% during the 2nd quarter. Sei Investments Co. now owns 21,717 shares of the company's stock valued at $202,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Zynex in the 2nd quarter valued at about $113,000. 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.