Dynatronics (DYNT) Cut to “Hold” at Zacks Investment Research

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 morning.

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, reaching $3.15. 4,700 shares of the company’s stock traded hands, compared to its average volume of 26,367. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $15.50, a price-to-earnings ratio of -2.84 and a beta of -0.14. 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, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.08. The company had revenue of $12.80 million for the quarter. Dynatronics had a negative net margin of 3.42% and a negative return on equity of 45.78%. research analysts forecast that Dynatronics will post -0.09 earnings per share for the current fiscal year.

In related news, Director Brian Larkin acquired 40,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was bought at an average price of $2.50 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 80,276 shares of the company’s stock, valued at $200,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stuart Essig acquired 27,455 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 856,169 shares of the company’s stock, valued at $2,371,588.13. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 369,015 shares of company stock worth $930,372. 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) in the second quarter, according to the company in its most recent disclosure 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 quarter. Institutional investors and hedge funds 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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