In a recent filing with the Securities and Exchange Commission (SEC), Rice Hall James & Associates LLC has revealed a significant reduction in its holdings of Zynex, Inc. (NASDAQ:ZYXI) shares. The institutional investor sold 154,696 shares during the first quarter, resulting in a decrease of 84.7%. As of its most recent filing with the SEC, Rice Hall James & Associates LLC now owns 27,963 shares of Zynex, valued at approximately $336,000.
Zynex, a company listed on NASDAQ under the ticker symbol ZYXI, recently released its earnings results for the quarter ending on July 27th. The company reported earnings per share (EPS) of $0.09 for the quarter, surpassing market expectations by $0.05. Analysts had previously estimated an EPS of $0.04 for Zynex during this period.
Additionally, the company generated revenue amounting to $44.95 million during the quarter, slightly exceeding analysts’ predictions of $44.50 million. Zynex also demonstrated strong financial performance with a net margin of 9.72% and a return on equity (ROE) of 26.71%.
Based on analyst forecasts and market trends, it is anticipated that Zynex will achieve an EPS of 0.41 for the current fiscal year.
The trimming of holdings by Rice Hall James & Associates LLC may indicate a change in their investment strategy or evaluation of Zynex’s growth prospects moving forward. These actions should be taken into account by potential investors considering their own positions in the company.
It is worth noting that investment decisions should not be made solely based on past performance or individual transactions by institutional investors like Rice Hall James & Associates LLC. Investors are advised to conduct thorough research and consider various factors before making any investment decisions.
As always when dealing with investments and financial matters, it is crucial to consult with professionals or undertake independent analysis to make informed choices and manage associated risks effectively. The contents of this article are for informational purposes only and should not be considered as financial advice.
Hedge Funds and Institutional Investors Increase Holdings in Zynex, Signaling Confidence in the Medical Technology Company’s Future
September 3, 2023 – In recent months, hedge funds have been actively buying and selling shares of Zynex, a medical technology company. This has led to an increase in the holdings of a number of large institutional investors.
One such investor, Swiss National Bank, has reported a significant increase in its holdings of Zynex. During the first quarter, the bank increased its ownership by 17.8%, acquiring an additional 8,210 shares. As a result, Swiss National Bank now holds 54,310 shares of the company’s stock, valued at approximately $338,000.
Another prominent institution that has shown interest in Zynex is JPMorgan Chase & Co. The financial giant boosted its position in the company by 14.8% during the same period. Its current ownership stands at 220,923 shares with a market value of $1.376 million.
Raymond James Financial Services Advisors Inc., on the other hand, recently entered into a new position with Zynex. The firm purchased shares worth $66,000 during the first quarter.
Bank of New York Mellon Corp also raised its stake in Zynex by 14.9% in the same period. After purchasing an additional 27,369 shares, it now owns a total of 210,580 shares valued at $1.312 million.
Cetera Advisor Networks LLC capped off this trend by increasing its stake in Zynex by 10%. The firm now holds 22,000 shares worth $137,000 after acquiring an additional 2,000 shares during the first quarter.
Interestingly enough, institutional investors and hedge funds currently own approximately 28.64% of Zynex’s stock. This indicates their strong belief in the long-term potential and value of the company within their investment portfolios.
Turning our attention to market trends for Zynex itself (NASDAQ:ZYXI), the company opened at $7.70 on Friday. Zynex boasts an impressive quick ratio of 6.61 and a current ratio of 7.63, indicating its strong liquidity position. Additionally, the debt-to-equity ratio stands at 0.92, suggesting a balanced capital structure.
In terms of stock performance, Zynex’s shares have experienced fluctuation over the past twelve months, with a low of $7.45 and a high of $17.25. Currently, the company holds a market capitalization of $276.63 million.
Zynex has demonstrated resilience in navigating challenging market conditions, as evidenced by its relatively low price-to-earnings (P/E) ratio of 16.74 and beta value of 0.58.
Furthermore, the business has shown stability in recent trading sessions with a 50-day moving average price of $8.69 and a two-hundred day moving average price of $10.15.
As investors assess their options amidst the intricate nature of financial markets, it is clear that Zynex has captured the attention of some major players within the hedge fund community and institutional investments sphere.
It remains to be seen how these recent developments will shape the future trajectory for Zynex and whether these institutions’ bullish bets will yield positive outcomes in the long run.