Zynex, Inc. CFO Daniel J. Moorhead Sells 10,000 Shares

Zynex, Inc. (NASDAQ:ZYXI) recently announced that its Chief Financial Officer, Daniel J. Moorhead, sold 10,000 shares of the company's stock on Friday, November 1st. The shares were sold at an average price of $8.59, resulting in a total transaction worth $85,900. Following this transaction, Moorhead now holds 44,878 shares of Zynex, valued at approximately $385,502.02. This sale reflects a 0.00% change in his overall position. The details of this transaction have been officially filed with the SEC, which can be viewed through their website.

Zynex Price Performance

On Monday, Zynex's stock traded down by $0.76 and reached a price of $8.00 during mid-day trading. The company saw a trading volume of 110,670 shares, lower than its average volume of 172,064 shares. Zynex's current ratio stands at 3.94, with a quick ratio of 3.15 and a debt-to-equity ratio of 1.66. Over the past fifty days, the stock has had an average price of $8.11, while its two-hundred-day moving average is $9.04. The company has recorded a fifty-two week low of $7.15 and a high of $13.77. Zynex has a market capitalization of $254.77 million, with a PE ratio of 54.07 and a beta of 0.53.

Zynex recently published its quarterly earnings on October 24th, where it reported an earnings per share (EPS) of $0.07 for the quarter. This performance was slightly above the consensus estimate of $0.06. The company generated revenue of $49.97 million, which was a bit below analysts' expectations of $50.83 million. Zynex's return on equity stood at 13.05%, along with a net margin of 2.49%. Revenue for the quarter increased by 0.1% compared to the same period last year when the EPS was $0.10. Looking forward, analysts predict that Zynex, Inc. will achieve an EPS of 0.2 for the current year.

Institutional Inflows and Outflows

Recent activity from institutional investors and hedge funds indicates changes in their holdings of Zynex. Millennium Management LLC boosted its stake in Zynex by 66.5% in the second quarter and now owns 297,082 shares worth about $2,769,000 after adding 118,615 shares in the last quarter. Similarly, Renaissance Technologies LLC increased its holdings by 68.7% during the same period, acquiring an additional 77,300 shares to reach 189,762 shares valued at $1,769,000. LSV Asset Management also raised its position by 45.1%, now owning 108,935 shares worth $1,348,000 after acquiring 33,840 shares. In the third quarter, Janney Montgomery Scott LLC increased its holdings in Zynex by 22.3%, bringing their total to 144,439 shares valued at $1,179,000. Lastly, WINTON GROUP Ltd enhanced its position by 147.6%, now holding 36,841 shares valued at $343,000. Overall, institutional investors and hedge funds own 29.68% of Zynex's stock.

Wall Street Analysts Forecast Growth

Equities analysts have recently provided insights on Zynex's stock. HC Wainwright raised their target price for Zynex from $16.00 to $17.00 and maintained a "buy" rating on October 25th. In contrast, Royal Bank of Canada lowered its price target from $12.00 to $11.00 while assigning an "outperform" rating in a note issued on October 8th.

Zynex Company Profile

Zynex, Inc., along with its subsidiaries, designs, manufactures, and markets medical devices that aim to treat chronic and acute pain. Their products also assist in muscle activation and rehabilitation through electrical stimulation. Noteworthy offerings include NexWave, a dual-channel device combining interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation. Other devices include NeuroMove, targeting electromyography and electric stimulation, and products such as InWave, E-Wave, and M-Wave for specific treatments.

Zynex, Stock, Sale