Zynex (NASDAQ:ZYXI) Raised to "Buy" at LADENBURG THALM/SH SH

Key Points

• Zynex has been upgraded from a "neutral" to a "buy" rating by LADENBURG THALM/SH SH, with a target price of $3.70, indicating a potential upside of 65.92% from its previous close.
• Other analysts have mixed views, with HC Wainwright downgrading Zynex to "neutral" and Royal Bank of Canada reducing its price target from $4.00 to $3.00.
• The stock opened at $2.23 and has fluctuated between a 52-week low of $1.66 and a high of $9.42.

Zynex (NASDAQ:ZYXI - Get Free Report) was upgraded by equities researchers at LADENBURG THALM/SH SH from a "neutral" rating to a "buy" rating in a report released on Friday. The firm currently has a $3.70 target price on the stock. LADENBURG THALM/SH SH's target price points to a potential upside of 65.92% from the stock's previous close.

A number of other equities analysts have also recently commented on the company. HC Wainwright cut Zynex from a "buy" rating to a "neutral" rating in a report on Friday. Royal Bank Of Canada lowered their price target on Zynex from $4.00 to $3.00 and set a "sector perform" rating for the company in a report on Tuesday, July 15th.

Zynex Stock Performance

NASDAQ:ZYXI opened at $2.23 on Friday. The stock has a fifty day moving average price of $2.36 and a 200-day moving average price of $3.85. The company has a market cap of $67.43 million, a price-to-earnings ratio of -9.29 and a beta of 0.83. The company has a debt-to-equity ratio of 2.87, a quick ratio of 2.63 and a current ratio of 3.46. Zynex has a fifty-two week low of $1.66 and a fifty-two week high of $9.42.

Zynex (NASDAQ:ZYXI - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.09). Zynex had a negative return on equity of 23.70% and a negative net margin of 4.30%. The business had revenue of $26.58 million for the quarter, compared to analyst estimates of $30.83 million. As a group, equities analysts anticipate that Zynex will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Zynex

A number of institutional investors and hedge funds have recently bought and sold shares of ZYXI. American Century Companies Inc. increased its holdings in Zynex by 4.4% in the 4th quarter. American Century Companies Inc. now owns 35,696 shares of the company's stock worth $286,000 after purchasing an additional 1,516 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Zynex in the 4th quarter worth about $211,000. JPMorgan Chase & Co. increased its holdings in Zynex by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 42,997 shares of the company's stock worth $344,000 after purchasing an additional 2,012 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Zynex by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 443,020 shares of the company's stock valued at $3,549,000 after buying an additional 17,511 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Zynex by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 137,362 shares of the company's stock valued at $1,100,000 after buying an additional 3,800 shares during the period. Institutional investors and hedge funds own 29.68% of the company's stock.

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.

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