(RTTNews) - Shares of Zynex Inc. (ZYXI) which touched an all-time intraday high of $13.10 on October 7, 2019, a gain of a whopping 345 percent year-to-date, have given back some of the gains and trade around $10.
Zynex is a medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring, and neurological diagnostics.
The Company operates under three subsidiaries - Zynex Medical, a provider of electrotherapy pain management devices "TENS"; Zynex Monitoring Solutions, which has developed a blood volume monitoring device, and is awaiting FDA approval and CE Marking in Europe; and Zynex NeuroDiagnostics, a developer of devices for EMG and EEG diagnostic purposes in the neurology clinic markets.
The Zynex Medical segment accounts for 90% of historical revenue and Zynex NeuroDiagnostics unit contributes less than 2% of the revenue.
The Company has improved its bottom line over the years while significantly growing its revenue, as can be seen from the numbers.
In the first half of 2019, the Company reported a net income of $4.51 million on revenue of $19.49 million.
For the third quarter, the Company expects revenue to be between $10.7 and $11.2 million, which is approximately 32% to 38% above last year's third-quarter revenue of $8.1 million.
Zynex is slated to report 2019 third-quarter financial results on Tuesday, October 29, 2019.
With 12 consecutive profitable quarters and with long-term objectives like increasing its national footprint, growing recurring revenue streams and driving value through organic growth and strategic acquisitions, Zynex is a stock worth keeping an eye on.
Zynex transitioned from being a privately held company to a publicly held company in February 2004, following a reverse acquisition, and its shares were listed on the OTCQB under ticker ZYXI. The stock was uplisted to the Nasdaq Capital Market on February 12, 2019.
ZYXI has traded in a range of $2.58 to $13.10 in the last 1 year. The stock closed Monday's trading at $10.88, up 3.82%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
