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

Zynex (NASDAQ:ZYXI) had its price target hoisted by HC Wainwright from $16.00 to $17.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Royal Bank of Canada decreased their price objective on shares of Zynex from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th.

Zynex Stock Performance

Zynex stock traded up $0.53 during mid-day trading on Friday, hitting $9.12. 264,477 shares of the company’s stock traded hands, compared to its average volume of 173,892. 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 one year low of $7.04 and a one year high of $13.77. The firm has a 50 day moving average price of $8.01 and a 200 day moving average price of $9.20. The company has a market cap of $289.79 million, a PE ratio of 39.65 and a beta of 0.54.

Zynex (NASDAQ:ZYXI) last issued 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. The business had revenue of $49.97 million for the quarter, compared to analysts’ expectations of $50.83 million. Zynex had a net margin of 3.12% and a return on equity of 14.15%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities analysts forecast that Zynex will post 0.2 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Zynex

Several hedge funds have recently modified their holdings of ZYXI. Principal Financial Group Inc. raised its holdings 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 period. LSV Asset Management boosted its position in shares of Zynex by 45.1% in the first quarter. LSV Asset Management now owns 108,935 shares of the company’s stock worth $1,348,000 after buying an additional 33,840 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Zynex during the first quarter valued at $137,000. Vanguard Group Inc. grew its holdings in shares of Zynex by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,187,089 shares of the company’s stock valued at $14,684,000 after buying an additional 6,097 shares in the last quarter. Finally, BOKF NA acquired a new position in Zynex during the first quarter valued at $246,000. 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.