Zynex (NASDAQ:ZYXI) Releases FY24 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.50 for the period, compared to the consensus 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 Performance

NASDAQ:ZYXI traded down $0.48 during midday trading on Tuesday, reaching $10.97. 156,777 shares of the company traded hands, compared to its average volume of 233,515. Zynex has a twelve month low of $6.88 and a twelve month 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 fifty day moving average price of $12.38 and a 200 day moving average price of $10.81. The firm 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 released its quarterly earnings data on Thursday, February 29th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The firm had revenue of $47.28 million during 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%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. On average, analysts expect that Zynex will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Zynex from $13.00 to $15.00 and gave the stock an outperform rating in a report on Friday, March 1st. HC Wainwright boosted their price target on Zynex from $20.00 to $21.00 and gave the stock a buy rating in a research report 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.