Zynex (NASDAQ:ZYXI) Releases FY 2024 Earnings Guidance

Zynex (NASDAQ:ZYXI) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Ratings Changes

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

Zynex Stock Performance

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

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data 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). Zynex had a return on equity of 16.82% and a net margin of 5.28%. The company had revenue of $47.28 million for the quarter, compared to the consensus estimate of $54.53 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Research analysts predict that Zynex will post 0.49 earnings per share for the current fiscal year.

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.