Zynex (NASDAQ:ZYXI) Updates Q2 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.080- for the period, compared to the consensus earnings per share estimate of 0.070. The company issued revenue guidance of $52.0 million-, compared to the consensus revenue estimate of $53.1 million. Zynex also updated its FY 2024 guidance to 0.500- EPS.

Zynex Stock Performance

ZYXI traded down $0.48 during midday trading on Tuesday, hitting $10.97. 156,977 shares of the company were exchanged, compared to its average volume of 233,517. The company’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $10.83. The firm has a market capitalization of $352.90 million, a price-to-earnings ratio of 40.63 and a beta of 0.48. 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 1-year low of $6.88 and a 1-year high of $14.75.

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

Analysts Set New Price Targets

ZYXI has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on 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 target price on Zynex from $20.00 to $21.00 and gave the company a buy rating in a research report on Friday, March 1st.

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.