Zynex (NASDAQ:ZYXI) Releases FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Zynex Stock Down 4.2 %

NASDAQ:ZYXI traded down $0.48 during mid-day trading on Tuesday, reaching $10.97. The stock had a trading volume of 156,977 shares, compared to its average volume of 233,517. The stock has a market cap of $352.90 million, a P/E ratio of 40.63 and a beta of 0.48. 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 business’s 50 day moving average is $12.35 and its 200 day moving average is $10.83. Zynex has a fifty-two week low of $6.88 and a fifty-two week high of $14.75.

Zynex (NASDAQ:ZYXI) last announced 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 for the quarter, compared to the consensus estimate of $54.53 million. Zynex had a return on equity of 16.82% and a net margin of 5.28%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. As a group, sell-side analysts predict that Zynex will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

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