Zynex (NASDAQ:ZYXI) Issues FY24 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.50 for the period, compared to the consensus EPS estimate of $0.49. The company issued revenue guidance of $227 million, compared to the consensus revenue estimate of $227.43 million. Zynex also updated its FY 2024 guidance to 0.500- EPS.

Zynex Stock Down 4.2 %

Shares of ZYXI traded down $0.48 during trading hours on Tuesday, reaching $10.97. The stock had a trading volume of 156,977 shares, compared to its average volume of 233,517. Zynex has a 12 month low of $6.88 and a 12 month high of $14.75. The firm has a 50-day simple moving average of $12.35 and a 200 day simple moving average of $10.83. The company has a current ratio of 4.74, a quick ratio of 4.03 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $352.90 million, a price-to-earnings ratio of 40.63 and a beta of 0.48.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings data 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). Zynex had a net margin of 5.28% and a return on equity of 16.82%. The company had revenue of $47.28 million for the quarter, compared to the consensus estimate of $54.53 million. During the same quarter last year, the business posted $0.20 earnings per share. Zynex’s revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Zynex will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZYXI. Royal Bank of Canada raised their price objective on Zynex from $13.00 to $15.00 and gave the company an outperform rating in a research note on Friday, March 1st. HC Wainwright raised their price objective on Zynex from $20.00 to $21.00 and gave the company a buy rating in a research note on Friday, March 1st.

About Zynex

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.