In a report released today, Marc Wiesenberger from B.Riley FBR reiterated a Buy rating on Zynex Inc (ZYXI), with a price target of $10.75. The company’s shares closed yesterday at $8.32.
Wiesenberger said:
“Buy-rated Zynex, Inc. (ZYXI, $10.75 PT) reported another quarter of impressive results that helped lift the stock ~10% after hours. The company reported revenue/adjusted EBITDA/EPS of $10.3M/$2.8M/$0.06, vs. consensus’ $9.7M/$2.8M/$0.06. More importantly, orders in 2Q were up 65% Y/Y , and 29% Q/Q, as device sales increased 36.8% Y/Y , to $2.3M, and supplies revenue was up 35.7% Y/Y , to $8.0M. Zynex’s razorblade-like model means that the strong device sales in 2Q should be a prelude to increased supplies revenue in the coming quarters and help fuel top-line growth of ~35% in FY19 and FY20. Furthermore, consistent with the increased orders, on the 2Q call, management noted that its 2019 cohort of sales reps is 50% more productive in the first 90 days, relative to those added in 2018.”
Wiesenberger has an average return of 81.5% when recommending Zynex Inc.
According to TipRanks.com, Wiesenberger is ranked #841 out of 5253 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zynex Inc with a $10.75 average price target.
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Zynex Inc’s market cap is currently $269.6M and has a P/E ratio of 28.30. The company has a Price to Book ratio of 22.91.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock.
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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.
