Dynatronics (DYNT) Downgraded to Hold at Zacks Investment Research

Dynatronics (NASDAQ:DYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “DYNATRONICS CORP. is involved in the design, manufacture and sale of medical devices for therapeutic use by medical practitioners. “

Shares of Dynatronics (DYNT) traded down $0.08 during trading hours on Friday, reaching $2.88. 3,598 shares of the company were exchanged, compared to its average volume of 13,272. The firm has a market cap of $14.52, a PE ratio of -2.57 and a beta of -0.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.46. Dynatronics has a 12-month low of $2.10 and a 12-month high of $3.75.

Dynatronics (NASDAQ:DYNT) last posted its earnings results on Tuesday, November 14th. The medical equipment provider reported $0.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.08. Dynatronics had a net margin of 1.55% and a return on equity of 1.15%. The firm had revenue of $12.80 million during the quarter. analysts anticipate that Dynatronics will post -0.09 earnings per share for the current fiscal year.

In other news, major shareholder Ventures 1 Lp Provco bought 300,000 shares of the stock in a transaction on Thursday, November 30th. The stock was acquired at an average price of $2.50 per share, with a total value of $750,000.00. Following the acquisition, the insider now directly owns 586,944 shares in the company, valued at $1,467,360. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Larkin bought 40,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average price of $2.50 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 80,276 shares in the company, valued at $200,690. The disclosure for this purchase can be found here. 51.80% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Dynatronics stock. First Light Asset Management LLC acquired a new stake in shares of Dynatronics Co. (NASDAQ:DYNT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the medical equipment provider’s stock, valued at approximately $280,000. First Light Asset Management LLC owned 2.72% of Dynatronics at the end of the most recent quarter. Hedge funds and other institutional investors own 18.17% of the company’s stock.

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About Dynatronics

Dynatronics Corporation is a manufacturer and distributor of physical medicine products. The Company’s products include a line of medical equipment for physical medicine applications, including therapy devices, medical supplies and soft goods, treatment tables and rehabilitation equipment. Its products are used by physical therapists, chiropractors, sports medicine practitioners, podiatrists, physicians and other physical medicine professionals.

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