Dynatronics (NASDAQ:DYNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $3.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.11% from the stock’s previous close.
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 trading hours on Tuesday, hitting $2.70. 31,651 shares of the stock traded hands, compared to its average volume of 13,896. Dynatronics has a 12-month low of $2.10 and a 12-month high of $3.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.46 and a quick ratio of 0.92.
In other news, Director Brian Larkin acquired 40,000 shares of Dynatronics stock in a transaction on Thursday, November 30th. The stock was acquired at an average cost of $2.50 per share, for a total transaction of $100,000.00. Following the purchase, the director now owns 80,276 shares in the company, valued at $200,690. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ventures 1 Lp Provco acquired 300,000 shares of Dynatronics stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $2.50 per share, with a total value of $750,000.00. Following the completion of the purchase, the insider now owns 586,944 shares in the company, valued at approximately $1,467,360. The disclosure for this purchase can be found here. Company insiders own 51.80% of the company’s stock.
A hedge fund recently bought a new stake 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 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 filing with the Securities and Exchange Commission. 18.17% of the stock is owned by institutional investors and hedge funds.
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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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