Zynex's (ZYXI) Buy Rating Reaffirmed at HC Wainwright

Zynex (NASDAQ:ZYXI - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $17.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 109.10% from the stock's current price.

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

Zynex Stock Up 2.4 %

Shares of ZYXI traded up $0.19 during mid-day trading on Friday, hitting $8.13. 53,349 shares of the company traded hands, compared to its average volume of 64,839. The company has a market capitalization of $258.94 million, a PE ratio of 54.20 and a beta of 0.49. The company has a quick ratio of 3.15, a current ratio of 3.94 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $8.25 and a 200 day moving average of $8.60. Zynex has a 1-year low of $7.15 and a 1-year high of $13.77.

Zynex (NASDAQ:ZYXI - Get Free Report) last announced its quarterly earnings data 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. Zynex had a return on equity of 13.05% and a net margin of 2.49%. The business had revenue of $49.97 million for the quarter, compared to analyst estimates of $50.83 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company's revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that Zynex will post 0.2 EPS for the current year.

Insider Buying and Selling at Zynex

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $8.08, for a total transaction of $80,800.00. Following the transaction, the chief financial officer now owns 35,190 shares in the company, valued at approximately $284,335.20. This represents a 22.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 34,000 shares of company stock valued at $289,240. Corporate insiders own 52.13% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ZYXI. Gladius Capital Management LP increased its holdings in Zynex by 53.4% in the 3rd quarter. Gladius Capital Management LP now owns 5,002 shares of the company's stock worth $41,000 after acquiring an additional 1,742 shares in the last quarter. Investment Partners Asset Management Inc. acquired a new stake in shares of Zynex in the third quarter valued at about $96,000. Hsbc Holdings PLC purchased a new stake in shares of Zynex during the second quarter worth about $113,000. Quest Partners LLC raised its position in shares of Zynex by 646.7% during the 2nd quarter. Quest Partners LLC now owns 12,926 shares of the company's stock worth $120,000 after purchasing an additional 11,195 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Zynex by 10.4% in the 2nd quarter. Principal Financial Group Inc. now owns 19,525 shares of the company's stock valued at $182,000 after buying an additional 1,846 shares in the last quarter. 29.68% of the stock is owned by institutional investors and hedge funds.

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.