ENGLEWOOD, Colo. – Zynex , Inc. (NASDAQ: NASDAQ:ZYXI), a medical technology firm known for its non-invasive medical devices for pain management, rehabilitation, and patient monitoring, has been ranked 9th in The Healthcare Technology Report's Top 25 Medical Device Companies for 2024.
The company's CEO, Thomas Sandgaard said, "We're pleased to be included in the Top 25 Medical Device Companies for 2024. The Healthcare Technology Report's rankings include some of the largest and most innovative companies in the medical device space. We are proud to be included amongst our distinguished peers and believe these rankings are indicative of our outsized influence within the field. We look forward to the coming year as we continue to build on a successful 2023."
The company, established in 1996, has a portfolio that includes devices for pain management and rehabilitation, as well as non-invasive monitoring systems designed for hospital use.
The information in this article is based on a press release statement from the company.
InvestingPro Insights
In the wake of Zynex Inc.'s recent accolade, real-time data from InvestingPro shows a promising financial landscape for the company. Zynex's market capitalization stands at a robust $395.32 million, and with a Price/Earnings (P/E) ratio of 26.76, it reflects investor confidence in its earnings potential. Moreover, the company's revenue growth is impressive, with a 24.12% increase over the last twelve months as of Q1 2023, highlighting its strong market presence and potential for future expansion.
InvestingPro Tips indicate that Zynex's management has been actively bolstering shareholder value through aggressive share buybacks, and the company's cash flows can comfortably cover interest payments, suggesting a solid financial footing. Additionally, with liquid assets surpassing short-term obligations and a moderate level of debt, Zynex appears to be in a healthy liquidity position. These factors, coupled with a strong return over the last three months and predictions of profitability for the current year, underscore the company's robust financial health and operational efficiency.
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