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Why Zynex Plunged Today

TheMotleyFool 
0 0 26.07.24
Why Zynex Plunged Today: https://g.foolcdn.com/editorial/images/784852/gettyimages-918572320.jpg
 

Shares of pain-management equipment specialist Zynex (NASDAQ: ZYXI) were falling in Friday trading, down as much as 23.4%, before recovering to a 13.4% decline as of 3:25 p.m. EDT.

The medical equipment company reported earnings last night that, on a headline basis, disappointed mightily. But there were actually some good reasons for the soft numbers, making the pullback in this small-cap stock a potential buying opportunity.

In the second quarter, Zynex grew revenue by 11% to $49.9 million with earnings per share (EPS) of $0.04, which was actually down 55% from the $0.09 print in the year-ago quarter. Both figures missed analyst estimates. Management also lowered the company's full-year outlook and is now expecting "just" 9% growth relative to 2023.

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Source Fool.com

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