[ACCESSWIRE]
ST. PETERSBURG, FL / ACCESSWIRE / March 8, 2018 / Consilium Global Research (CGR) an Investor Recognition Company that connects Companies with Investors, today announced that it has issued an Update Report on Zynex Inc. (OTCQB: ZYXI).
The Research Update Report is available on Stock Market Manager (www.smm.global): Click Here
Zynex is the leading provider of Electrotherapy Medical Devices used for pain management and rehabilitation. The company is also pioneering development of an Innovative Blood Volume Monitor.
Catalysts/Keys:
1. ZYXI reported 4Q17 EPS of $0.10, on revenue of $8.1 million, exceeding our forecast of $0.09 on revenue of $7.3 million. An improvement in sales coupled with higher margin consumables and an improved reimbursement strategy drove the strong results. For 2017, EPS was $0.22 on revenue of $23.4 million, up from $0.00 on revenue of $13.3 million at the end of 2016.
2.As a result of the improved performance and our conversations with management after the earnings call, we are adjusting our forecasts. We now forecast 2018E revenues of $34.2 million, up from $33.0 million. For 2019E we now forecast revenue of $47.9 million, up from our previous forecast of $46.3 million. For 2018E we now forecast EBITDA of $15.9 million up from $15.4 million. For 2019E, we now forecast EBITDA of $24.3 million up from $23.4 million previously. For 2018E, we are leaving our EPS forecast unchanged at $0.31. For 2019E we now forecast EPS of $0.41, up from $0.39.
Conclusion
Our Investment Thesis is intact and we are glad to see that the on-going paradigm shift at ZYXI is proving beneficial to investors. As a result, we are raising our estimate of fair value to $7, from $6, which assumes ZYXI can achieve an EV/EBITDA of 11.6x, a P/E of 17.2x and an EV/Sales of 2.4X. We believe this is fair as the company's business momentum is continuing.
Contact Information:
Consilium Global Research
360 Central Ave, Suite 800
St. Petersburg, FL 33701
www.ConsiliumGlobalResearch.com
[email protected]
Zynex Medical, Inc.
10000 Park Meadows Drive
Lone Tree, CO 80124
(800) 495-6670
www.zynexmed.com
[email protected]
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SOURCE: Stock Market Manager
