Zynex (NASDAQ:ZYXI) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Zynex (NASDAQ:ZYXI) from an outperform rating to a sector perform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $5.50 price target on the stock, down from their previous price target of $11.00.

Other equities analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Zynex in a research report on Friday, December 6th. LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Zynex Price Performance

ZYXI opened at $2.97 on Wednesday. The stock has a fifty day moving average of $7.42 and a 200-day moving average of $7.91. The firm 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 company has a quick ratio of 3.15, a current ratio of 3.94 and a debt-to-equity ratio of 1.66.

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

Insider Activity at Zynex

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of Zynex stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $7.68, for a total transaction of $76,800.00. Following the completion of the sale, the chief financial officer now owns 19,738 shares of the company’s stock, valued at approximately $151,587.84. The trade was a 33.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 30,000 shares of company stock valued at $227,100 over the last quarter. Corporate insiders own 52.13% of the company’s stock.

Hedge Funds Weigh In On Zynex

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new stake in Zynex during the 4th quarter worth about $26,000. Tower Research Capital LLC TRC grew its position in shares of Zynex by 138.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company’s stock worth $27,000 after purchasing an additional 1,975 shares in the last quarter. Gladius Capital Management LP boosted its position in shares of 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 in the last quarter. Investment Partners Asset Management Inc. boosted its position in shares of Zynex by 10.4% during the 4th quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock worth $104,000 after acquiring an additional 1,220 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Zynex in the fourth quarter valued at approximately $117,000. 29.68% of the stock is owned by institutional investors.

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.