Zacks Investment Research lowered shares of Dynatronics (NASDAQ:DYNT) 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. “
Dynatronics (NASDAQ DYNT) traded down $0.03 during trading on Friday, reaching $3.15. 4,700 shares of the company were exchanged, compared to its average volume of 26,367. The company has a market capitalization of $15.50, a P/E ratio of -2.84 and a beta of -0.14. Dynatronics has a 1-year low of $2.10 and a 1-year high of $3.75. 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 (NASDAQ:DYNT) last announced its quarterly earnings results on Tuesday, November 14th. The medical equipment provider reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. The firm had revenue of $12.80 million during the quarter. Dynatronics had a negative net margin of 3.42% and a negative return on equity of 45.78%. analysts predict that Dynatronics will post -0.09 earnings per share for the current fiscal year.
In related news, major shareholder Stuart Essig purchased 27,455 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were bought at an average cost of $2.77 per share, with a total value of $76,050.35. Following the acquisition, the insider now owns 856,169 shares of the company’s stock, valued at approximately $2,371,588.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Larkin purchased 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average cost of $2.50 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director now directly owns 80,276 shares in the company, valued at approximately $200,690. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 369,015 shares of company stock worth $930,372. 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 position in shares of Dynatronics Co. (NASDAQ:DYNT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 100,000 shares of the medical equipment provider’s stock, valued at approximately $280,000. First Light Asset Management LLC owned about 2.72% of Dynatronics at the end of the most recent reporting period. 18.17% of the stock is 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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