Zynex (NASDAQ:ZYXI) Releases FY24 Earnings Guidance

Zynex (NASDAQ:ZYXI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.20 for the period, compared to the consensus estimate of $0.51. The company issued revenue guidance of $200.0 million, compared to the consensus revenue estimate of $226.95 million. Zynex also updated its FY 2024 guidance to 0.200- EPS.

Zynex Price Performance

Shares of Zynex stock traded down $1.26 during trading on Friday, reaching $8.93. The company’s stock had a trading volume of 1,034,596 shares, compared to its average volume of 124,147. The stock has a 50-day moving average price of $9.55 and a two-hundred day moving average price of $11.06. The company has a current ratio of 3.58, a quick ratio of 2.87 and a debt-to-equity ratio of 1.76. Zynex has a one year low of $6.88 and a one year high of $13.77. The stock has a market capitalization of $283.71 million, a P/E ratio of 38.83 and a beta of 0.53.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Zynex had a net margin of 3.12% and a return on equity of 13.14%. The business had revenue of $49.88 million during the quarter, compared to the consensus estimate of $51.99 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zynex will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ZYXI shares. Royal Bank of Canada dropped their price objective on Zynex from $15.00 to $12.00 and set an outperform rating for the company in a report on Friday. HC Wainwright dropped their price objective on Zynex from $21.00 to $16.00 and set a buy rating for the company in a report on Friday.

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.