Brokers Set Expectations for Zynex, Inc.'s Q2 2024 Earnings (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI - Free Report) - HC Wainwright lowered their Q2 2024 earnings estimates for Zynex in a note issued to investors on Wednesday, May 1st. HC Wainwright analyst Y. Chen now forecasts that the company will earn $0.08 per share for the quarter, down from their prior estimate of $0.09. HC Wainwright currently has a "Buy" rating and a $21.00 target price on the stock. The consensus estimate for Zynex's current full-year earnings is $0.49 per share. HC Wainwright also issued estimates for Zynex's Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.30 EPS.

Zynex (NASDAQ:ZYXI - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.13). The company had revenue of $47.28 million during the quarter, compared to the consensus estimate of $54.53 million. Zynex had a return on equity of 14.68% and a net margin of 4.33%. The company's revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share.

Separately, Royal Bank of Canada increased their target price on shares of Zynex from $13.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, March 1st.

Zynex Stock Down 2.0 %

Zynex stock traded down $0.23 during midday trading on Thursday, hitting $11.54. 110,240 shares of the company's stock were exchanged, compared to its average volume of 232,490. The company has a debt-to-equity ratio of 1.26, a quick ratio of 4.03 and a current ratio of 4.74. Zynex has a 12 month low of $6.88 and a 12 month high of $14.75. The firm has a 50-day moving average of $12.31 and a two-hundred day moving average of $10.84. The company has a market cap of $371.24 million, a PE ratio of 50.17 and a beta of 0.49.

Institutional Trading of Zynex

Hedge funds have recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in Zynex in the 3rd quarter worth approximately $81,000. Tower Research Capital LLC TRC lifted its stake in Zynex by 358.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company's stock valued at $81,000 after acquiring an additional 5,830 shares during the period. Mainstay Capital Management LLC ADV acquired a new stake in Zynex during the 4th quarter valued at approximately $118,000. Quantbot Technologies LP lifted its stake in Zynex by 41.6% during the 3rd quarter. Quantbot Technologies LP now owns 22,732 shares of the company's stock valued at $182,000 after acquiring an additional 6,680 shares during the period. Finally, Connors Investor Services Inc. lifted its stake in Zynex by 4.3% during the 3rd quarter. Connors Investor Services Inc. now owns 24,250 shares of the company's stock valued at $194,000 after acquiring an additional 1,000 shares during the period. 29.68% of the stock is owned by hedge funds and other institutional investors.

About Zynex

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.