Zynex Inc. ZYXI recently announced the completion of the clinical verification trial of its NiCO pulse oximeter, which was overseen by anesthesiologist Dr. David MacLeod at Duke University.
NiCO is likely the first Zynex monitoring product to enter a mature and growing market. The product’s entry into the market will be enabled by its game-changing capabilities, like advanced laser technology and improved accuracy. Zynex looks forward to the FDA clearance as all the required clinical studies for the NiCO pulse oximeter have been completed.
Likely Trend of ZYXI Stock Following the News
Following the announcement, shares of the company moved north 2.4% and closed at $8.13 on Friday. However, in the year-to-date period, ZYXI shares have lost 23.3% against the industry’s 12.9% growth. The S&P 500 increased 28.1% in the same time frame.
Meanwhile, ZYXI currently has a market capitalization of $259 million. In the last reported quarter, ZYXI delivered an earnings surprise of 40%.
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More on ZYXI’s NiCO Pulse Oximeter
The NiCO pulse oximeter from Zynex uses extremely accurate laser technology to monitor blood oxygenation levels directly, unlike other pulse oximeters that solely use LEDs to estimate oxygenation levels. In a number of groups, LED pulse oximeters have been demonstrated to mismeasure oxygen levels, most notably in people with darker complexions.
Trial completion is a key milestone required by the FDA before submission of a 510(k) for clearance to market and sell the NiCO device for clinical use. With the completion of this study, Zynex is likely to conduct the final test to ensure the device's operational safety prior to 510(k) submission.
Zynex's NiCO product line is a strategically planned move to introduce completely new pulse oximetry technology into the multibillion-dollar market. The business is sure that the clinical benefits of NiCO's unmatched safety, accuracy, and precision will offer the best entry into this industry.
Favorable Industry for ZYXI
Per a report by Grand View Research, the global pulse oximeter market size was estimated at $3.3 billion in 2023 and is expected to witness a CAGR of 6.6% from 2024 to 2030.
The rising incidence of respiratory and cardiovascular diseases worldwide is expected to drive the demand for continuous monitoring devices, including pulse oximeters. Moreover, factors such as technological advancements, strategic partnerships among key players, and the rising adoption of home healthcare & remote patient monitoring are driving the pulse oximeters market growth.
Recent Notable Development for ZYXI
In September, ZYXI announced the FDA clearance of its new TensWave device. The TensWave device, by prescription only, builds on Zynex's strong legacy of innovation in pain management. It offers a user-friendly, portable design that can be easily integrated into patients' daily routines. The device aims to provide effective pain relief through TENS (Transcutaneous Electrical Nerve Stimulation) therapy, which has been clinically proven to reduce chronic and acute pain without needing medication.
ZYXI’s Zacks Rank & Stocks to Consider
ZYXI carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks from the medical industry are Masimo MASI, AngioDynamics ANGO and Globus Medical GMED.
Masimo, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated growth rate of 10.4% for 2025. You can see the complete list of today’s Zacks #1 Rank stocks here.
MASI’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 17.10%. Masimo’s shares have risen 37.2% year to date compared with the industry’s 6.7% growth.
AngioDynamics, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 38.2% for 2025. ANGO’s earnings surpassed estimates in three of the trailing four quarters and missed once, delivering an average surprise of 31.71%.
AngioDynamics’ shares have lost 8.9% year to date against the industry’s 6.7% growth.
Globus Medical, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.7%. GMED’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.1%. Its shares have risen 56.5% year to date compared with the industry’s 6.7% growth.
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