Zynex (NASDAQ:ZYXI – Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.05 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $50.0, compared to the consensus revenue estimate of $60.13 million. Zynex also updated its FY 2024 guidance to 0.200- EPS.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. HC Wainwright reduced their target price on shares of Zynex from $21.00 to $16.00 and set a buy rating for the company in a research note on Friday. Royal Bank of Canada cut their price objective on shares of Zynex from $15.00 to $12.00 and set an outperform rating for the company in a research report on Friday.
Read Our Latest Stock Analysis on ZYXI
Zynex Stock Down 12.4 %
Zynex (NASDAQ:ZYXI – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Zynex had a net margin of 4.33% and a return on equity of 16.34%. The business had revenue of $49.88 million for the quarter, compared to the consensus estimate of $51.99 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Zynex will post 0.51 earnings per share for the current fiscal year.
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.
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