Zynex Inc. Forecasted to Earn Q3 2021 Earnings of $0.10 Per Share (OTCMKTS:ZYXI)

Zynex Inc. (OTCMKTS:ZYXI) – Research analysts at Piper Sandler reduced their Q3 2021 earnings per share estimates for shares of Zynex in a report released on Tuesday, July 28th. Piper Sandler analyst M. O’brien now anticipates that the company will post earnings per share of $0.10 for the quarter, down from their prior forecast of $0.22. Piper Sandler currently has a “Overweight” rating and a $30.00 target price on the stock. Piper Sandler also issued estimates for Zynex’s FY2021 earnings at $0.60 EPS and FY2022 earnings at $0.81 EPS.

Zynex (OTCMKTS:ZYXI) last announced its earnings results on Tuesday, July 28th. The company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. The company had revenue of $19.26 million during the quarter, compared to the consensus estimate of $19.12 million. Zynex had a net margin of 33.33% and a return on equity of 152.81%.

A number of other equities research analysts also recently weighed in on the stock. Northland Securities reissued a “hold” rating and set a $22.50 price target on shares of Zynex in a research note on Wednesday. HC Wainwright dropped their price target on shares of Zynex from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, B. Riley raised shares of Zynex from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Zynex presently has a consensus rating of “Buy” and a consensus price target of $23.50.

ZYXI opened at $19.12 on Friday. The company has a market cap of $663.58 million, a price-to-earnings ratio of 86.91 and a beta of 1.05. The firm has a 50 day simple moving average of $23.36 and a 200 day simple moving average of $16.05. Zynex has a fifty-two week low of $7.51 and a fifty-two week high of $29.73.

Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Zynex by 38.3% in the 1st quarter. Citigroup Inc. now owns 4,383 shares of the company’s stock valued at $48,000 after acquiring an additional 1,213 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Zynex by 14.3% in the 1st quarter. Rhumbline Advisers now owns 13,594 shares of the company’s stock valued at $150,000 after acquiring an additional 1,704 shares in the last quarter. Strs Ohio grew its holdings in shares of Zynex by 84.6% in the 2nd quarter. Strs Ohio now owns 4,800 shares of the company’s stock valued at $119,000 after acquiring an additional 2,200 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Zynex by 121.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,866 shares of the company’s stock valued at $54,000 after acquiring an additional 2,673 shares in the last quarter. Finally, WealthTrust Axiom LLC grew its holdings in shares of Zynex by 8.5% in the 1st quarter. WealthTrust Axiom LLC now owns 43,989 shares of the company’s stock valued at $486,000 after acquiring an additional 3,439 shares in the last quarter. Institutional investors own 0.05% of the company’s stock.

In related news, CFO Daniel J. Moorhead purchased 2,733 shares of Zynex stock in a transaction dated Thursday, July 30th. The stock was bought at an average price of $18.11 per share, for a total transaction of $49,494.63. Following the completion of the acquisition, the chief financial officer now directly owns 19,001 shares of the company’s stock, valued at $344,108.11. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Sandgaard sold 1,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $22.00, for a total transaction of $27,500,000.00. The disclosure for this sale can be found here.

Zynex Company Profile

Zynex, Inc, a medical technology company, designs, manufactures, and markets electrotherapy medical devices used for pain management and rehabilitation. Its products include NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation device; NeuroMove, an electromyography triggered electrical stimulation device; and InWave, an electrical stimulation product for the treatment of female urinary incontinence.

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Earnings History and Estimates for Zynex (OTCMKTS:ZYXI)

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