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

Zynex (NASDAQ:ZYXI) had its target price decreased by Royal Bank of Canada from $15.00 to $12.00 in a report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, HC Wainwright lowered their price objective on shares of Zynex from $21.00 to $16.00 and set a buy rating for the company in a report on Friday.

Zynex Stock Down 12.4 %

Shares of NASDAQ:ZYXI opened at $8.93 on Friday. The firm has a market capitalization of $283.71 million, a PE ratio of 38.83 and a beta of 0.53. The company has a debt-to-equity ratio of 1.76, a quick ratio of 2.87 and a current ratio of 3.58. Zynex has a 52-week low of $6.88 and a 52-week high of $13.77. The firm has a fifty day moving average of $9.55 and a 200 day moving average of $11.06.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data 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). The firm had revenue of $49.88 million during the quarter, compared to analysts’ expectations of $51.99 million. Zynex had a return on equity of 13.14% and a net margin of 3.12%. Zynex’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that Zynex will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Zynex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. MA boosted its holdings in shares of 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. Bank of New York Mellon Corp raised its position in Zynex by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 192,832 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,954 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Zynex by 358.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock worth $81,000 after buying an additional 5,830 shares during the period. Vanguard Group Inc. grew its position in shares of Zynex by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,187,089 shares of the company’s stock worth $14,684,000 after buying an additional 6,097 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Zynex by 56.4% during the first quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock valued at $219,000 after buying an additional 6,378 shares during the period. Institutional investors 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.