Zynex Inc Up 15.66% To $8.27 After Earnings Beat

Friday, October 27, 2023 - Zynex Inc (ZYXI) reported upside earnings and revenues today.

Zynex Inc's earnings came in at an EPS of $0.1 per share, 11.00% higher than estimates for an EPS of $0.09 per share. The firm's earnings are down 23% since reporting $0.13 per share in the same period a year ago.

Revenues were upbeat at $49.9 million. That is an increase of 20.22% in revenues from the year-ago report and is 0.09% higher than consensus estimates set at $49.9 million.

The stock is up 15.66% to $8.27 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Zynex Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 45. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Zynex Inc is engaged in the manufacturing and marketing of medical devices. It operates through one primary business segment, Electrotherapy and Pain Management Products. The business activities of the company are carried out through its subsidiaries. The company designs, manufacture, and markets medical devices that treat chronic and acute pain, as well as activate and exercise muscles for rehabilitative purposes with electrical stimulation. it also develops and markets medical devices for non-invasive cardiac monitoring, the products of which are under development. The company markets Zynex-manufactured products which include NexWave, NeuroMove, InWave E-Wave and others.