Zynex, Inc. to Post Q3 2023 Earnings of $0.10 Per Share, HC Wainwright Forecasts (NASDAQ:ZYXI)

Posted by on Jul 31st, 2023

Zynex, Inc. (NASDAQ:ZYXI – Free Report) – Research analysts at HC Wainwright lowered their Q3 2023 earnings per share (EPS) estimates for shares of Zynex in a note issued to investors on Friday, July 28th. HC Wainwright analyst Y. Chen now expects that the company will earn $0.10 per share for the quarter, down from their previous forecast of $0.13. HC Wainwright has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.43 per share. HC Wainwright also issued estimates for Zynex’s Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.40 EPS, Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.17 EPS and Q4 2024 earnings at $0.22 EPS.

Separately, TheStreet downgraded shares of Zynex from a “b-” rating to a “c” rating in a report on Friday, April 28th.

Zynex Stock Up 1.4 %

Shares of NASDAQ:ZYXI opened at $9.89 on Monday. The firm has a market cap of $362.52 million, a P/E ratio of 21.50 and a beta of 0.57. The company has a quick ratio of 2.42, a current ratio of 3.09 and a debt-to-equity ratio of 0.06. Zynex has a 12-month low of $7.95 and a 12-month high of $17.25. The business has a fifty day simple moving average of $9.36 and a 200 day simple moving average of $11.23.

Zynex (NASDAQ:ZYXI – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $44.95 million for the quarter, compared to analyst estimates of $44.50 million. Zynex had a return on equity of 26.40% and a net margin of 9.72%.

Institutional Trading of Zynex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Zynex by 280.7% during the 1st quarter. Quarry LP now owns 2,364 shares of the company’s stock worth $28,000 after acquiring an additional 1,743 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Zynex by 1,213.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,309 shares of the company’s stock valued at $28,000 after buying an additional 3,981 shares during the period. Dorsey Wright & Associates bought a new stake in shares of Zynex during the 4th quarter valued at about $33,000. Teachers Retirement System of The State of Kentucky bought a new position in Zynex in the third quarter worth approximately $43,000. Finally, UBS Group AG boosted its holdings in Zynex by 49.0% in the third quarter. UBS Group AG now owns 5,371 shares of the company’s stock worth $49,000 after acquiring an additional 1,766 shares in the last quarter. Institutional investors own 28.64% of the company’s stock.

Zynex Company Profile

(Get Free Report)

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; and E-Wave, an NMES device.

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