Zynex (NASDAQ:ZYXI) Updates FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.200- for the period, compared to the consensus earnings per share estimate of 0.510. The company issued revenue guidance of $200.0 million-, compared to the consensus revenue estimate of $227.0 million. Zynex also updated its FY24 guidance to $0.20 EPS.

Zynex Stock Down 12.4 %

NASDAQ ZYXI traded down $1.26 during trading on Friday, hitting $8.93. 1,034,596 shares of the company traded hands, compared to its average volume of 124,147. Zynex has a 12 month low of $6.88 and a 12 month high of $13.77. The business has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $11.06. The company has a current ratio of 3.58, a quick ratio of 2.87 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $283.71 million, a P/E ratio of 38.83 and a beta of 0.53.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). Zynex had a net margin of 3.12% and a return on equity of 13.14%. The company had revenue of $49.88 million for the quarter, compared to the consensus estimate of $51.99 million. During the same quarter last year, the business earned $0.09 earnings per share. Zynex’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Zynex will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZYXI. Royal Bank of Canada dropped their price objective on Zynex from $15.00 to $12.00 and set an outperform rating on the stock in a research note on Friday. HC Wainwright dropped their price objective on Zynex from $21.00 to $16.00 and set a buy rating on the stock in a research note on Friday.

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.