Dynatronics (DYNT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Dynatronics (NASDAQ:DYNT) from a hold rating to a buy rating in a research note released on Monday. Zacks Investment Research currently has $3.50 price objective on the medical equipment provider’s stock.

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 $0.04 during midday trading on Monday, hitting $3.20. 29,011 shares of the company traded hands, compared to its average volume of 34,067. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.46 and a quick ratio of 0.92. The firm has a market cap of $15.75, a price-to-earnings ratio of -2.86 and a beta of -0.09. Dynatronics has a twelve month low of $2.10 and a twelve month high of $3.75.

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

In related news, major shareholder Stuart Essig bought 27,455 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average price of $2.77 per share, for a total transaction of $76,050.35. Following the completion of the transaction, the insider now directly owns 856,169 shares of the company’s stock, valued at approximately $2,371,588.13. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ventures 1 Lp Provco bought 300,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was bought at an average price of $2.50 per share, for a total transaction of $750,000.00. Following the transaction, the insider now directly owns 586,944 shares of the company’s stock, valued at $1,467,360. The disclosure for this purchase can be found here. Insiders acquired 369,015 shares of company stock worth $930,372 in the last 90 days. Company 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 bought a new stake in Dynatronics Co. (NASDAQ:DYNT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 at the end of the most recent reporting period. 18.17% of the stock is currently owned by 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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