Royal Bank of Canada Lowers Zynex (NASDAQ:ZYXI) Price Target to $12.00

Zynex (NASDAQ:ZYXI) had its price target dropped by investment analysts at Royal Bank of Canada from $15.00 to $12.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 46.34% from the company’s current price.

Separately, HC Wainwright decreased their target price on Zynex from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Friday.

Zynex Stock Down 19.5 %

ZYXI stock traded down $1.99 during mid-day trading on Friday, hitting $8.20. The stock had a trading volume of 416,843 shares, compared to its average volume of 190,631. 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 stock has a market capitalization of $260.56 million, a price-to-earnings ratio of 36.13 and a beta of 0.53. The company has a fifty day moving average of $9.59 and a 200 day moving average of $11.07. Zynex has a 1-year low of $6.88 and a 1-year high of $13.77.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Zynex had a return on equity of 16.34% and a net margin of 4.33%. The business had revenue of $49.88 million during the quarter, compared to the consensus estimate of $51.99 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts expect that Zynex will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Zynex

A number of hedge funds have recently bought and sold shares of ZYXI. Mainstay Capital Management LLC ADV acquired a new position in shares of Zynex during the 4th quarter worth about $118,000. LSV Asset Management bought a new position in Zynex in the 4th quarter worth approximately $818,000. BNP Paribas Financial Markets lifted its holdings in shares of Zynex by 41.2% during the fourth quarter. BNP Paribas Financial Markets now owns 34,249 shares of the company’s stock worth $373,000 after buying an additional 9,997 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Zynex by 46.4% in the fourth quarter. Trexquant Investment LP now owns 122,671 shares of the company’s stock valued at $1,336,000 after acquiring an additional 38,865 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Zynex by 358.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock worth $81,000 after acquiring an additional 5,830 shares during the last quarter. 29.68% of the stock is currently 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.