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 Price Performance

NASDAQ ZYXI traded down $0.48 during trading hours on Tuesday, hitting $10.97. 156,977 shares of the company’s stock traded hands, compared to its average volume of 233,517. The firm’s 50-day moving average is $12.38 and its 200-day moving average is $10.81. Zynex has a 52-week low of $6.88 and a 52-week high of $14.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 4.74 and a quick ratio of 4.03. The company has a market capitalization of $352.90 million, a PE ratio of 40.63 and a beta of 0.48.

Zynex (NASDAQ:ZYXI) last posted 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). Zynex had a net margin of 5.28% and a return on equity of 16.82%. The firm had revenue of $47.28 million during the quarter, compared to analysts’ expectations of $54.53 million. During the same period last year, the company earned $0.20 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that Zynex will post 0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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