Zynex (NASDAQ:ZYXI) Downgraded to Neutral Rating by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH downgraded shares of Zynex (NASDAQ:ZYXI) from a buy rating to a neutral rating in a report released on Wednesday morning, MarketBeat reports.

Separately, HC Wainwright restated a “buy” rating and set a $17.00 price target on shares of Zynex in a research report on Friday, December 6th.

Zynex Stock Down 51.3 %

NASDAQ ZYXI opened at $3.41 on Wednesday. The firm has a market cap of $108.59 million, a PE ratio of 22.73 and a beta of 0.81. Zynex has a one year low of $3.17 and a one year high of $13.19. The stock’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $7.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 3.94 and a quick ratio of 3.15.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). The business had revenue of $45.98 million for the quarter, compared to the consensus estimate of $53.65 million. Zynex had a return on equity of 13.05% and a net margin of 2.49%. During the same quarter last year, the company earned $0.04 earnings per share. As a group, sell-side analysts forecast that Zynex will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $7.68, for a total transaction of $76,800.00. Following the transaction, the chief financial officer now owns 19,738 shares of the company’s stock, valued at approximately $151,587.84. This represents a 33.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 30,000 shares of company stock valued at $227,100. 52.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZYXI. Janney Montgomery Scott LLC lifted its holdings in Zynex by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 144,439 shares of the company’s stock worth $1,179,000 after buying an additional 26,368 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Zynex by 72.7% during the 3rd quarter. GSA Capital Partners LLP now owns 79,930 shares of the company’s stock worth $652,000 after buying an additional 33,649 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Zynex by 9.2% in the 3rd quarter. Royce & Associates LP now owns 257,291 shares of the company’s stock valued at $2,099,000 after purchasing an additional 21,781 shares during the period. Gladius Capital Management LP lifted its stake in shares of Zynex by 53.4% in the 3rd quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock valued at $41,000 after purchasing an additional 1,742 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Zynex by 131.3% in the 3rd quarter. Quest Partners LLC now owns 29,898 shares of the company’s stock valued at $244,000 after purchasing an additional 16,972 shares during the period. Institutional investors and hedge funds 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.