ENGLEWOOD, CO—Daniel J. Moorhead, the Chief Financial Officer of Zynex Inc. (NASDAQ:ZYXI), recently sold 10,000 shares of the company's common stock. The transaction, which took place on January 2, 2025, was executed at a weighted average price of $7.88 per share, amounting to a total value of $78,800. The sale comes as the company trades at a P/E ratio of 54.36, with analyst price targets ranging from $11 to $24.50 per share.
Following the sale, Moorhead retains ownership of 26,299 shares in Zynex. According to the filing, the transaction was conducted under a Rule 10b5-1 trading plan that Moorhead adopted on July 31, 2024. This plan allows company insiders to set up a predetermined schedule for selling stocks, providing an affirmative defense against accusations of insider trading.
Zynex, based in Englewood, Colorado, specializes in electromedical and electrotherapeutic apparatus. The company continues to focus on providing innovative medical devices and solutions to improve patient care. With a market capitalization of $257 million and an impressive gross profit margin of 79.69%, Zynex maintains strong financial health with liquid assets exceeding short-term obligations. For detailed analysis and additional insights, investors can access comprehensive research through InvestingPro.
In other recent news, Zynex Inc. reported a slight increase in net revenue to $50 million and a net income of $2.4 million in its Q3 earnings call. The company also noted a 13% year-over-year order growth and projected a total revenue of $200 million for 2024. Zynex also announced a partnership with Veterans Affairs Medical (TASE:PMCN) Centers to extend its reach into the VA's healthcare system. In addition, the company has completed clinical verification trials for its NiCO pulse oximeter at Duke University, a significant step towards seeking FDA approval. H.C. Wainwright maintained a positive stance on Zynex shares, reiterating a Buy rating. As part of its expansion plans, Zynex aims to add 10 sales representatives monthly over the next 18 months. These are recent developments from Zynex, as the company continues to make strides in the medical technology market.
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