Zynex (NASDAQ:ZYXI) Price Target Cut to $11.00 by Analysts at Royal Bank of Canada

Zynex (NASDAQ:ZYXI) had its target price trimmed by Royal Bank of Canada from $12.00 to $11.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $16.00 price target on shares of Zynex in a report on Wednesday, September 4th.

Zynex Price Performance

Shares of Zynex stock opened at $7.74 on Tuesday. The company has a current ratio of 4.06, a quick ratio of 3.22 and a debt-to-equity ratio of 1.79. The firm has a fifty day simple moving average of $7.95 and a 200-day simple moving average of $9.58. The stock has a market capitalization of $245.67 million, a price-to-earnings ratio of 33.61 and a beta of 0.54. Zynex has a 1-year low of $7.04 and a 1-year high of $13.77.

Zynex (NASDAQ:ZYXI) last released its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $49.88 million for the quarter, compared to analyst estimates of $51.99 million. Zynex had a return on equity of 14.15% and a net margin of 3.12%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, sell-side analysts expect that Zynex will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joshua R. Disbrow acquired 7,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $8.32 per share, with a total value of $58,240.00. Following the completion of the transaction, the director now owns 72,000 shares of the company’s stock, valued at approximately $599,040. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zynex news, COO Anna Lucsok sold 8,083 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $8.03, for a total value of $64,906.49. Following the sale, the chief operating officer now owns 16,980 shares of the company’s stock, valued at $136,349.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joshua R. Disbrow acquired 7,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $8.32 per share, with a total value of $58,240.00. Following the purchase, the director now owns 72,000 shares in the company, valued at approximately $599,040. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 52.13% of the company’s stock.

Institutional Trading of Zynex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYXI. Congress Asset Management Co. MA lifted its stake in Zynex by 1.0% during the first quarter. Congress Asset Management Co. MA now owns 118,376 shares of the company’s stock worth $1,464,000 after purchasing an additional 1,225 shares during the period. Principal Financial Group Inc. lifted its position in shares of Zynex by 10.4% during the 2nd quarter. Principal Financial Group Inc. now owns 19,525 shares of the company’s stock worth $182,000 after buying an additional 1,846 shares during the period. Cim LLC boosted its stake in Zynex by 6.1% in the 2nd quarter. Cim LLC now owns 43,581 shares of the company’s stock valued at $406,000 after buying an additional 2,508 shares in the last quarter. American Century Companies Inc. boosted its stake in Zynex by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 31,159 shares of the company’s stock valued at $290,000 after buying an additional 2,864 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Zynex by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 192,832 shares of the company’s stock valued at $1,797,000 after acquiring an additional 2,954 shares during the period. Institutional investors own 29.68% of the company’s stock.

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.