Zacks Investment Research upgraded shares of Dynatronics (NASDAQ:DYNT) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $3.00 price target 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 (DYNT) traded down $0.02 during midday trading on Tuesday, hitting $2.70. 31,600 shares of the stock traded hands, compared to its average volume of 13,896. 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 12 month low of $2.10 and a 12 month high of $3.75.
Dynatronics (NASDAQ:DYNT) last posted its quarterly earnings data 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 during the quarter. Dynatronics had a negative net margin of 3.42% and a negative return on equity of 45.78%. equities analysts predict that Dynatronics will post -0.09 earnings per share for the current year.
In related news, Director Brian Larkin purchased 40,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average price of $2.50 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures 1 Lp Provco purchased 300,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average cost of $2.50 per share, with a total value of $750,000.00. Following the acquisition, the insider now owns 586,944 shares of the company’s stock, valued at $1,467,360. The disclosure for this purchase can be found here. 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 purchased a new stake in Dynatronics Co. (NASDAQ:DYNT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. Hedge funds and other institutional investors own 18.17% of the company’s stock.
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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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