ZYXI - Why Zynex Stock Is Up Today
Shares of Zynex (NASDAQ: ZYXI), a medical devices manufacturer, are up by 12.1% as of 12:22 p.m. EDT on Friday, after the company announced on Thursday that it had experienced an increase in orders during the second quarter. As a result, Zynex revised its second-quarter and full-year revenue guidance.
The demand for some of Zynex's medical devices -- which include devices for pain management and cardiac monitoring -- grew during the second quarter as many states started relaxing social distancing measures and reopening their economies. Specifically, the company said that it experienced a 37% increase in orders compared to the year-ago period. What's more, Zynex expects that trend to continue during the third quarter. The company had previously said that its revenue for the second quarter would come in between $17.5 million and $18 million.
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