Dynatronics (DYNT) Downgraded by Zacks Investment Research to Hold

Dynatronics (NASDAQ:DYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

Shares of Dynatronics (DYNT) opened at $3.15 on Friday. Dynatronics has a 52-week low of $2.10 and a 52-week high of $3.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.46. The firm has a market cap of $15.01, a PE ratio of -2.84 and a beta of -0.14.

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. Dynatronics had a negative net margin of 3.42% and a negative return on equity of 45.78%. The business had revenue of $12.80 million during the quarter. analysts expect that Dynatronics will post -0.09 EPS for the current fiscal year.

In other news, Director Brian Larkin acquired 40,000 shares of the business’s 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 transaction, the director now directly owns 80,276 shares of the company’s stock, valued at approximately $200,690. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures 1 Lp Provco acquired 300,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average cost of $2.50 per share, with a total value 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 have purchased 369,015 shares of company stock valued at $930,372 in the last ninety days. 51.80% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Dynatronics stock. First Light Asset Management LLC bought a new position in Dynatronics Co. (NASDAQ:DYNT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter. Institutional investors 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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