Zynex (NASDAQ:ZYXI) Updates FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.200- for the period, compared to the consensus earnings per share estimate of 0.200. The company issued revenue guidance of $200.0 million-, compared to the consensus revenue estimate of $200.5 million. Zynex also updated its Q4 guidance to at least $0.09 EPS.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZYXI. Royal Bank of Canada decreased their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Zynex in a research note on Wednesday, September 4th.

Zynex Price Performance

Shares of NASDAQ ZYXI traded up $0.23 during midday trading on Thursday, reaching $8.59. 151,606 shares of the company were exchanged, compared to its average volume of 173,447. The stock’s 50-day moving average price is $7.96 and its 200-day moving average price is $9.23. The stock has a market cap of $272.65 million, a P/E ratio of 47.72 and a beta of 0.54. Zynex has a one year low of $7.04 and a one year high of $13.77. 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 (NASDAQ:ZYXI) last posted its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The company had revenue of $49.88 million for the quarter, compared to the consensus estimate of $51.99 million. Zynex had a return on equity of 14.15% and a net margin of 3.12%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. On average, sell-side analysts anticipate that Zynex will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Zynex

In other Zynex news, Director Joshua R. Disbrow purchased 7,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 owns 72,000 shares in the company, valued at approximately $599,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Anna Lucsok sold 8,083 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total value of $64,906.49. Following the transaction, the chief operating officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua R. Disbrow bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the acquisition, the director now owns 72,000 shares of the company’s stock, valued at $599,040. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 52.13% of the stock is owned by company insiders.

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.