Royce & Associates LP Cuts Position in Zynex, Inc. (NASDAQ:ZYXI)

Royce & Associates LP lowered its holdings in shares of Zynex, Inc. (NASDAQ:ZYXI) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 221,027 shares of the company’s stock after selling 36,264 shares during the period. Royce & Associates LP’s holdings in Zynex were worth $1,770,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Zynex during the 4th quarter worth approximately $26,000. Investment Partners Asset Management Inc. increased its holdings in Zynex by 10.4% in the 4th quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock worth $104,000 after acquiring an additional 1,220 shares in the last quarter. Jane Street Group LLC raised its position in Zynex by 8.9% during the third quarter. Jane Street Group LLC now owns 23,530 shares of the company’s stock worth $192,000 after acquiring an additional 1,929 shares during the period. Barclays PLC lifted its holdings in Zynex by 43.3% during the third quarter. Barclays PLC now owns 28,821 shares of the company’s stock valued at $236,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Zynex by 131.3% in the third quarter. Quest Partners LLC now owns 29,898 shares of the company’s stock valued at $244,000 after purchasing an additional 16,972 shares during the period. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Analyst Upgrades and Downgrades

ZYXI has been the subject of several research analyst reports. HC Wainwright reduced their price target on shares of Zynex from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada downgraded Zynex from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $11.00 to $5.50 in a research report on Wednesday, March 12th. Finally, LADENBURG THALM/SH SH cut Zynex from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th.

Zynex Stock Down 5.2 %

Shares of NASDAQ ZYXI opened at $2.57 on Friday. The stock has a market cap of $82.01 million, a PE ratio of 17.13 and a beta of 0.81. The company has a current ratio of 3.94, a quick ratio of 3.15 and a debt-to-equity ratio of 1.66. Zynex, Inc. has a 12-month low of $2.56 and a 12-month high of $13.19. The company has a 50-day moving average of $6.99 and a 200 day moving average of $7.76.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). Zynex had a net margin of 2.49% and a return on equity of 13.05%. The company had revenue of $45.98 million during the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter last year, the company earned $0.04 earnings per share. As a group, sell-side analysts predict that Zynex, Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $7.88, for a total value of $78,800.00. Following the completion of the sale, the chief financial officer now owns 26,299 shares of the company’s stock, valued at approximately $207,236.12. This represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 30,000 shares of company stock valued at $227,100 in the last three months. 52.13% of the stock is currently owned by insiders.

Zynex 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.