Zynex (ZYXI) Receives a Rating Update from a Top Analyst

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Zynex (ZYXIResearch Report), with a price target of $22.00. The company’s shares closed last Wednesday at $11.55, close to its 52-week low of $10.66.

According to TipRanks.com, Chen is a top 100 analyst with an average return of 46.1% and a 49.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and HTG Molecular Diagnostics.

Zynex has an analyst consensus of Strong Buy, with a price target consensus of $19.75.

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Based on Zynex’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $31.02 million and net profit of $2.81 million. In comparison, last year the company earned revenue of $19.26 million and had a net profit of $3.02 million.

Based on the recent corporate insider activity of 41 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.

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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.