Zynex (NASDAQ:ZYXI) Price Target Cut to $12.00 by Analysts at Royal Bank of Canada

Zynex (NASDAQ:ZYXI) had its price objective reduced by Royal Bank of Canada from $15.00 to $12.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, HC Wainwright dropped their target price on Zynex from $21.00 to $16.00 and set a buy rating on the stock in a research report on Friday.

Zynex Price Performance

Shares of ZYXI opened at $8.34 on Friday. The business’s 50-day moving average is $9.51 and its 200-day moving average is $11.05. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.06 and a quick ratio of 3.22. The company has a market capitalization of $264.71 million, a price-to-earnings ratio of 36.26 and a beta of 0.53. Zynex has a fifty-two week low of $6.88 and a fifty-two week high of $13.77.

Zynex (NASDAQ:ZYXI) last released its 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 return on equity of 14.15% and a net margin of 3.12%. The company had revenue of $49.88 million during the quarter, compared to analysts’ expectations of $51.99 million. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that Zynex will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rice Hall James & Associates LLC boosted its holdings in Zynex by 101.4% in the first quarter. Rice Hall James & Associates LLC now owns 242,557 shares of the company’s stock worth $3,000,000 after purchasing an additional 122,128 shares in the last quarter. LSV Asset Management bought a new stake in shares of Zynex during the 4th quarter worth about $818,000. Cim LLC acquired a new position in shares of Zynex during the 4th quarter valued at about $446,000. Trexquant Investment LP raised its stake in shares of Zynex by 46.4% in the 4th quarter. Trexquant Investment LP now owns 122,671 shares of the company’s stock valued at $1,336,000 after acquiring an additional 38,865 shares in the last quarter. Finally, Platte River Wealth Advisors LLC lifted its holdings in Zynex by 200.0% in the 2nd quarter. Platte River Wealth Advisors LLC now owns 30,000 shares of the company’s stock worth $280,000 after purchasing an additional 20,000 shares during the last quarter. 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.