Insider Buying: Zynex, Inc. (NASDAQ:ZYXI) Director Purchases 7,000 Shares of Stock

Zynex, Inc. (NASDAQ:ZYXI) Director Joshua R. Disbrow bought 7,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was bought at an average price of $8.32 per share, for a total transaction of $58,240.00. Following the completion of the purchase, the director now directly owns 72,000 shares of the company’s stock, valued at approximately $599,040. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Zynex Price Performance

Zynex stock traded down $0.12 during midday trading on Tuesday, hitting $8.22. The company’s stock had a trading volume of 293,185 shares, compared to its average volume of 198,175. The company has a quick ratio of 3.22, a current ratio of 4.06 and a debt-to-equity ratio of 1.79. The stock’s 50-day moving average price is $9.51 and its 200-day moving average price is $11.05. Zynex, Inc. has a 12 month low of $6.88 and a 12 month high of $13.77. The company has a market capitalization of $260.90 million, a PE ratio of 35.74 and a beta of 0.53.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The business had revenue of $49.88 million during the quarter, compared to the consensus estimate of $51.99 million. Zynex had a return on equity of 14.15% and a net margin of 3.12%. Zynex’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts anticipate that Zynex, Inc. will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zynex

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Zynex by 358.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock worth $81,000 after purchasing an additional 5,830 shares in the last quarter. Mainstay Capital Management LLC ADV purchased a new position in Zynex during the 4th quarter valued at about $118,000. State Board of Administration of Florida Retirement System purchased a new position in Zynex during the 1st quarter valued at about $137,000. Principal Financial Group Inc. grew its stake in Zynex by 56.4% during the 1st quarter. Principal Financial Group Inc. now owns 17,679 shares of the company’s stock valued at $219,000 after acquiring an additional 6,378 shares in the last quarter. Finally, BOKF NA purchased a new position in Zynex during the 1st quarter valued at about $246,000. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Zynex from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. HC Wainwright cut their price objective on shares of Zynex from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday.

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.