Analyst Explains Why They Downgraded Their Rating on Zynex (ZYXI)
Northland Securities analyst James Terwilliger downgraded Zynex (ZYXI) to Hold today and set a price target of $21.00. The company’s shares closed last Monday at $24.52, close to its 52-week high of $25.39.
Terwilliger has an average return of 75.3% when recommending Zynex.
According to TipRanks.com, Terwilliger is ranked #1109 out of 6685 analysts.
Currently, the analyst consensus on Zynex is a Moderate Buy with an average price target of $22.17.
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Based on Zynex’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $15.23 million and net profit of $2.94 million. In comparison, last year the company earned revenue of $9.2 million and had a net profit of $2.35 million.
Based on the recent corporate insider activity of 24 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.