B.Riley Financial Remains a Buy on Zynex (ZYXI)

In a report issued on January 13, Marc Wiesenberger from B.Riley Financial reiterated a Buy rating on Zynex (ZYXI), with a price target of $23.00. The company’s shares closed last Tuesday at $18.05.

According to TipRanks.com, Wiesenberger is a top 100 analyst with an average return of 76.4% and a 85.0% success rate. Wiesenberger covers the Technology sector, focusing on stocks such as Lightpath Technologies, Wireless Telecom Group, and Insight Enterprises.

Currently, the analyst consensus on Zynex is a Strong Buy with an average price target of $24.63, implying a 43.4% upside from current levels. In a report issued on December 30, Northland Securities also assigned a Buy rating to the stock with a $22.50 price target.

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Based on Zynex’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $20.03 million and net profit of $1.33 million. In comparison, last year the company earned revenue of $11.82 million and had a net profit of $2.03 million.

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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.

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