Zynex Returns against. S&P
|1 YEAR||5 YEAR||5 YEAR ANNUALIZED||SINCE IPO|
What has happened
Zynex Stock : The shares of Zynex ( ZYXI -0.36 percent), a medical device manufacturer, have risen by 12.1 percent as of 12:00 p.m. (ET) on Friday as Zynex announced on Thursday that it increased orders in its second-quarter. In the aftermath, Zynex updated its second quarter and full-year revenue forecast.
What’s the question?
The demand for certain of Zynex’s medical products including instruments for pain management and heart monitoring — increased in the second quarter of 2018 as several states began to relax social distancing rules and reopening their economies. The company specifically stated that it saw an increase of 37% in orders over the same time last year. Furthermore, Zynex expects that trend to continue in the 3rd quarter. Zynex had previously stated that the revenue it earned in the second quarter will come between $17.5 million and $18 million.
The moment is now Zynex anticipates its revenue to be within the region from $18.9 millions up to $19.4 million. It is important to note that on average, analysts anticipate the company’s revenues in the range of $17.98 million in the first quarter. In addition, Zynex increased its full-year revenue forecast to $80 million to $85 million. This is an increase from between $78 and $83 million. This is a revenue increase between 76% and 87% over the fiscal year 2019.
Now , what do you do?
Zynex is performing consistently throughout the year despite the fact that other medical device firms have been struggling with the ongoing epidemic Zynex’s shares are rising by 267.5 percent in the year to date. Based on its most recent business update it is likely that Zynex’s medical device company will likely continue its upwards trajectory for at least the rest of the year.
Should you put your money into Zynex today?
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