HC Wainwright Upgrades Zynex (OTCMKTS:ZYXI) to “Buy”

HC Wainwright upgraded shares of Zynex (OTCMKTS:ZYXI) from a neutral rating to a buy rating in a research note published on Monday morning, The Fly reports. They currently have $25.00 target price on the stock.

ZYXI has been the topic of a number of other reports. B. Riley raised Zynex from a neutral rating to a buy rating and set a $28.00 price target on the stock in a report on Wednesday, July 29th. Piper Sandler assumed coverage on Zynex in a report on Monday, July 20th. They issued an overweight rating and a $30.00 price target on the stock. Northland Securities raised Zynex from a market perform rating to an outperform rating and set a $22.50 price objective on the stock in a research note on Wednesday, September 9th. Finally, Zacks Investment Research raised Zynex from a sell rating to a hold rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Zynex currently has an average rating of Buy and a consensus price target of $23.50.

ZYXI stock opened at $16.01 on Monday. Zynex has a twelve month low of $7.51 and a twelve month high of $29.73. The stock has a market cap of $555.64 million, a P/E ratio of 72.77 and a beta of 1.05. The business’s 50-day moving average price is $16.42 and its 200-day moving average price is $17.41.

Zynex (OTCMKTS:ZYXI) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.09. Zynex had a return on equity of 152.81% and a net margin of 33.33%. The firm had revenue of $19.26 million for the quarter, compared to analysts’ expectations of $19.12 million. As a group, equities analysts forecast that Zynex will post 0.28 earnings per share for the current year.

In related news, CFO Daniel J. Moorhead bought 2,733 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $18.11 per share, with a total value of $49,494.63. Following the transaction, the chief financial officer now owns 19,001 shares in the company, valued at approximately $344,108.11. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Sandgaard sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $22.00, for a total value of $27,500,000.00. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in Zynex in the 2nd quarter valued at $30,000. Rockefeller Capital Management L.P. bought a new position in Zynex in the 2nd quarter valued at $37,000. Citigroup Inc. grew its position in Zynex by 38.3% in the 1st quarter. Citigroup Inc. now owns 4,383 shares of the company’s stock valued at $48,000 after acquiring an additional 1,213 shares during the last quarter. Toronto Dominion Bank bought a new position in Zynex in the 2nd quarter valued at $50,000. Finally, BNP Paribas Arbitrage SA grew its position in Zynex by 121.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,866 shares of the company’s stock valued at $54,000 after acquiring an additional 2,673 shares during the last quarter. 0.05% of the stock is currently owned by hedge funds and other institutional investors.

About Zynex

Zynex, Inc, a medical technology company, designs, manufactures, and markets electrotherapy medical devices used for pain management and rehabilitation. Its products include NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation device; NeuroMove, an electromyography triggered electrical stimulation device; and InWave, an electrical stimulation product for the treatment of female urinary incontinence.

See Also: Gross Domestic Product (GDP)

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