Zynex (NASDAQ:ZYXI) Releases FY24 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.20 for the period, compared to the consensus estimate of $0.51. The company issued revenue guidance of $200.0 million, compared to the consensus revenue estimate of $226.95 million. Zynex also updated its FY 2024 guidance to 0.200- EPS.

Zynex Trading Down 12.4 %

Shares of NASDAQ:ZYXI traded down $1.26 during mid-day trading on Friday, reaching $8.93. 1,034,596 shares of the company were exchanged, compared to its average volume of 124,147. The company has a debt-to-equity ratio of 1.76, a current ratio of 3.58 and a quick ratio of 2.87. The firm has a market cap of $283.71 million, a price-to-earnings ratio of 38.83 and a beta of 0.53. The firm’s 50-day simple moving average is $9.55 and its 200 day simple moving average is $11.06. Zynex has a 1 year low of $6.88 and a 1 year high of $13.77.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data 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 company had revenue of $49.88 million for 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%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. Equities research analysts forecast that Zynex will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ZYXI shares. Royal Bank of Canada lowered their price objective on shares of Zynex from $15.00 to $12.00 and set an outperform rating for the company in a research report on Friday. 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 research report 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.