Dynatronics (DYNT) Downgraded by 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, January 12th.

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 $0.35 during mid-day trading on Friday, hitting $2.90. The stock had a trading volume of 62,416 shares, compared to its average volume of 29,069. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.81. Dynatronics has a fifty-two week low of $2.10 and a fifty-two week high of $3.75. The firm has a market capitalization of $14.76, a price-to-earnings ratio of -2.59 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter. research analysts expect that Dynatronics will post -0.09 EPS for the current fiscal year.

In other Dynatronics news, major shareholder Ventures 1 Lp Provco acquired 300,000 shares of the stock in a transaction on Thursday, November 30th. The stock was purchased at an average price of $2.50 per share, for a total transaction of $750,000.00. Following the purchase, the insider now directly owns 586,944 shares in the company, valued at $1,467,360. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Stuart Essig acquired 27,455 shares of the stock in a transaction on Wednesday, January 3rd. The shares were acquired at an average price of $2.77 per share, with a total value of $76,050.35. Following the purchase, the insider now owns 856,169 shares in the company, valued at $2,371,588.13. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 369,015 shares of company stock valued at $930,372. 51.80% of the stock is owned by insiders.

An institutional investor recently bought a new position in Dynatronics stock. First Light Asset Management LLC acquired a new stake in shares of Dynatronics Co. (NASDAQ:DYNT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the medical equipment provider’s stock, valued at approximately $280,000. First Light Asset Management LLC owned approximately 2.72% of Dynatronics as of its most recent SEC filing. 18.17% of the stock is currently owned by institutional investors and hedge funds.

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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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