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

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Zacks Investment Research cut shares of Dynatronics (NASDAQ:DYNT) from a buy rating to a hold rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “DYNATRONICS CORP. is involved in the design, manufacture and sale of medical devices for therapeutic use by medical practitioners. “

Separately, ValuEngine downgraded shares of Dynatronics from a buy rating to a hold rating in a research report on Wednesday, January 15th.

Dynatronics stock opened at $0.95 on Thursday. Dynatronics has a 52 week low of $0.63 and a 52 week high of $2.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.36. The stock has a market capitalization of $9.45 million, a P/E ratio of -4.75 and a beta of 0.03. The stock has a 50-day simple moving average of $0.93 and a 200 day simple moving average of $0.98.

Dynatronics (NASDAQ:DYNT) last posted its quarterly earnings results on Tuesday, February 11th. The medical equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Dynatronics had a negative return on equity of 8.60% and a negative net margin of 1.35%. Research analysts forecast that Dynatronics will post -0.14 earnings per share for the current year.

A hedge fund recently raised its stake in Dynatronics stock. Renaissance Technologies LLC raised its position in shares of Dynatronics Co. (NASDAQ:DYNT) by 69.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,100 shares of the medical equipment provider’s stock after purchasing an additional 20,600 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of Dynatronics worth $42,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.32% of the company’s stock.

About Dynatronics

Dynatronics Corporation designs, manufactures, markets, and distributes orthopedic soft goods, medical supplies, and physical therapy and rehabilitation equipment in the United States and internationally. It offers ankle and wrist braces, hot packs, cold packs, lumbar rolls, cervical collars, slings, cervical pillows, bolsters, positioning wedges, back cushions, lotions and gels, paper products, athletic tape, splints, elastic wraps, exercise weights, exercise bands and tubing, electrodes, and rehabilitation and back products.

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