Dynatronics (NASDAQ:DYNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $3.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.11% from the company’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 on Tuesday, hitting $2.70. 31,651 shares of the stock traded hands, compared to its average volume of 13,896. Dynatronics has a 1-year low of $2.10 and a 1-year 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.

Dynatronics (NASDAQ:DYNT) last announced its quarterly earnings results on Tuesday, November 14th. The medical equipment provider reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.80 million during the quarter. sell-side analysts forecast that Dynatronics will post -0.09 earnings per share for the current year.

In related news, major shareholder Ventures 1 Lp Provco purchased 300,000 shares of Dynatronics stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average cost of $2.50 per share, with a total value of $750,000.00. Following the completion of the transaction, the insider now directly owns 586,944 shares in the company, valued at $1,467,360. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Larkin purchased 40,000 shares of Dynatronics 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 $100,000.00. Following the completion of the transaction, the director now owns 80,276 shares of the company’s stock, valued at $200,690. The disclosure for this purchase can be found here. 51.80% of the stock is owned by insiders.

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 its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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 currently owned by hedge funds and other 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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