EXCLUSIVE: Medical Devices Firm Zynex Launches New $20M Share Repurchase Program
Portfolio Pulse from Vandana Singh
Zynex Inc's board of directors has approved a $20 million share repurchase program, set to commence on November 1, 2023. The company recently initiated a process to evaluate potential strategic alternatives and has retained Cantor Fitzgerald & Co. as its financial advisor. Zynex expects to finance the purchases with existing cash balances. The company reported Q3 revenues of $49.9 million, up 20% Y/Y.
November 01, 2023 | 12:30 pm
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NEUTRAL IMPACT
Zynex's new $20M share repurchase program and its evaluation of strategic alternatives could potentially boost investor confidence. However, the company's shares are currently down 6.15%.
Share repurchase programs are often seen as a sign of a company's confidence in its own business, which can boost investor sentiment. However, the company's shares are currently down, indicating that the market may have already priced in this news or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100