Zynex (NASDAQ:ZYXI) Releases FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.500- for the period, compared to the consensus estimate of 0.480. The company issued revenue guidance of $227.0 million-, compared to the consensus revenue estimate of $227.4 million. Zynex also updated its FY24 guidance to $0.50 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ZYXI shares. Royal Bank of Canada upped their price target on shares of Zynex from $13.00 to $15.00 and gave the company an outperform rating in a research report on Friday, March 1st. HC Wainwright raised their price target on shares of Zynex from $20.00 to $21.00 and gave the company a buy rating in a report on Friday, March 1st.

Zynex Stock Performance

Zynex stock traded down $0.48 during mid-day trading on Tuesday, reaching $10.97. The company’s stock had a trading volume of 156,977 shares, compared to its average volume of 233,517. The firm has a market cap of $352.90 million, a price-to-earnings ratio of 40.63 and a beta of 0.48. The business has a 50 day moving average price of $12.38 and a 200-day moving average price of $10.81. The company has a current ratio of 4.74, a quick ratio of 4.03 and a debt-to-equity ratio of 1.26. Zynex has a twelve month low of $6.88 and a twelve month high of $14.75.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Thursday, February 29th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $47.28 million during the quarter, compared to the consensus estimate of $54.53 million. Zynex had a net margin of 5.28% and a return on equity of 16.82%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Sell-side analysts predict that Zynex will post 0.49 EPS for the current fiscal year.

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.