RBC Capital analyst Shagun Singh Chadha maintained a Buy rating on Zynex (ZYXI – Research Report) yesterday and set a price target of $13.00. The company’s shares closed yesterday at $7.15.
According to TipRanks, Singh Chadha is an analyst with an average return of -11.1% and a 20.14% success rate. Singh Chadha covers the Healthcare sector, focusing on stocks such as Boston Scientific, Edwards Lifesciences, and Outset Medical.
Currently, the analyst consensus on Zynex is a Moderate Buy with an average price target of $16.50, a 130.77% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.
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Based on Zynex’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $44.95 million and a net profit of $3.35 million. In comparison, last year the company earned a revenue of $36.76 million and had a net profit of $3.35 million
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZYXI in relation to earlier this year. Earlier this month, Sandgaard Thomas, the Pres., CEO & COB of ZYXI bought 209,000.00 shares for a total of $41,800.00.
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Zynex (ZYXI) Company Description:
Zynex, Inc. engages in the design, manufacture, and marketing of medical devices. It sells electrotherapy medical devices used for pain management and rehabilitation. The company also develops a new blood volume monitor for use in hospitals and surgery centers. Zynex was founded by Thomas Sandgaard in 1996 and is headquartered in Englewood, CO.
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