Zynex (NASDAQ:ZYXI) Updates FY24 Earnings Guidance

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

Shares of Zynex stock traded down $0.48 on Tuesday, reaching $10.97. The stock had a trading volume of 156,977 shares, compared to its average volume of 233,517. The company has a debt-to-equity ratio of 1.26, a quick ratio of 4.03 and a current ratio of 4.74. Zynex has a fifty-two week low of $6.88 and a fifty-two week high of $14.75. The business’s 50-day moving average price is $12.35 and its two-hundred day moving average price is $10.83. The stock has a market cap of $352.90 million, a P/E ratio of 40.63 and a beta of 0.48.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings results 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). Zynex had a net margin of 5.28% and a return on equity of 16.82%. The company had revenue of $47.28 million during the quarter, compared to the consensus estimate of $54.53 million. During the same period last year, the company earned $0.20 earnings per share. Zynex’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Zynex will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

ZYXI has been the subject of a number of analyst reports. 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 report 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 report 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.