Dynatronics (DYNT) Downgraded by Zacks Investment Research to Hold

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

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

Dynatronics (NASDAQ DYNT) traded down $0.03 on Friday, hitting $3.15. The stock had a trading volume of 4,770 shares, compared to its average volume of 26,367. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.46 and a quick ratio of 0.92. Dynatronics has a twelve month low of $2.10 and a twelve month high of $3.75. The firm has a market capitalization of $15.75, a PE ratio of -2.81 and a beta of -0.09.

Dynatronics (NASDAQ:DYNT) last posted its earnings results on Tuesday, November 14th. The medical equipment provider reported $0.00 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.08. Dynatronics had a negative return on equity of 45.78% and a negative net margin of 3.42%. The business had revenue of $12.80 million for the quarter. equities research analysts forecast that Dynatronics will post -0.09 earnings per share for the current fiscal year.

In related news, Director Brian Larkin purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average price of $2.50 per share, for a total transaction of $100,000.00. Following the transaction, the director now directly owns 80,276 shares of the company’s stock, valued at approximately $200,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Stuart Essig purchased 27,455 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was bought at an average price of $2.77 per share, for a total transaction of $76,050.35. Following the transaction, the insider now directly owns 856,169 shares in the company, valued at $2,371,588.13. The disclosure for this purchase can be found here. Insiders have bought 369,015 shares of company stock worth $930,372 in the last quarter. Insiders own 51.80% of the company’s stock.

An institutional investor recently bought a new position in Dynatronics stock. First Light Asset Management LLC purchased a new stake in Dynatronics Co. (NASDAQ:DYNT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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 as of its most recent SEC filing. 18.17% of the stock is currently owned by hedge funds and other institutional investors.

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Dynatronics Company Profile

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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