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Zynex , Inc. (NASDAQ:ZYXI), whose stock has declined over 70% in the past six months and currently trades at $2.48, announced that Chief Financial Officer Dan Moorhead has notified the company of his decision to resign from his position, effective August 29, 2025. The company stated that Moorhead’s resignation is not due to any disagreement related to Zynex’s operations, policies, or practices.
According to a statement released in a Securities and Exchange Commission filing, Moorhead is expected to enter into a consulting agreement with Zynex following his departure. This agreement would allow him to assist with the transition of his responsibilities and provide advisory support for a limited period. The company said that the terms of this agreement will be disclosed once finalized.
The filing also noted that Thomas Sandgaard, Zynex’s Chairman and current Chief Executive Officer, will work with Steven Dyson, the incoming Chief Executive Officer, and the Board of Directors to identify and appoint a new Chief Financial Officer.
Zynex, headquartered in Englewood, Colorado, develops and markets medical devices for pain management and rehabilitation. The information in this article is based on a statement provided in the company’s SEC filing.
In other recent news, Zynex Inc. has experienced several notable developments. The company reported a revenue miss in the first quarter, which led RBC Capital to lower its price target for Zynex from $4.00 to $3.00, while maintaining a Sector Perform rating. This adjustment comes amid the company’s decision not to provide guidance for 2025, raising questions about its financial outlook. Additionally, Zynex’s largest insurance customer, Tricare, has extended its temporary payment suspension, which has been under review despite the company’s efforts to appeal the decision.
In a significant leadership change, Zynex announced that Steven Dyson will take over as Chief Executive Officer, effective August 18, 2025. Dyson brings extensive experience from his previous role at Apax (HN:IBC), a global private equity firm. Meanwhile, H.C. Wainwright has reiterated its Buy rating on Zynex, maintaining a price target of $8.00, following the announcement of Dyson’s appointment. Founder Thomas Sandgaard will remain involved as Chairman and Chair of the Board’s Technology Committee, stepping back from daily operations.
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