HC Wainwright Lowers Zynex (NASDAQ:ZYXI) Price Target to $15.00

Zynex (NASDAQ:ZYXI) had its target price decreased by HC Wainwright from $17.00 to $15.00 in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

ZYXI has been the topic of a number of other research reports. LADENBURG THALM/SH SH lowered Zynex from a “buy” rating to a “neutral” rating in a research note on Wednesday. Royal Bank of Canada lowered Zynex from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $11.00 to $5.50 in a research note on Wednesday.

Zynex Stock Performance

Shares of ZYXI stock opened at $2.97 on Wednesday. The company has a market capitalization of $94.58 million, a P/E ratio of 19.80 and a beta of 0.81. Zynex has a 12-month low of $2.77 and a 12-month high of $13.19. The business’s 50 day moving average is $7.42 and its two-hundred day moving average is $7.91. The company has a current ratio of 3.94, a quick ratio of 3.15 and a debt-to-equity ratio of 1.66.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.11). Zynex had a return on equity of 13.05% and a net margin of 2.49%. The firm had revenue of $45.98 million for the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Analysts expect that Zynex will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake 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 during the last quarter. GSA Capital Partners LLP lifted its position 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 acquiring an additional 33,649 shares during the period. Royce & Associates LP lifted its position in Zynex by 9.2% during the 3rd quarter. Royce & Associates LP now owns 257,291 shares of the company’s stock worth $2,099,000 after acquiring an additional 21,781 shares during the period. Gladius Capital Management LP lifted its position in Zynex by 53.4% during the 3rd quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock worth $41,000 after acquiring an additional 1,742 shares during the period. Finally, Quest Partners LLC lifted its position in Zynex by 131.3% during the 3rd quarter. Quest Partners LLC now owns 29,898 shares of the company’s stock worth $244,000 after acquiring an additional 16,972 shares during the period. Hedge funds and other 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.