Maxim Group analyst Anthony Vendetti initiated coverage with a Buy rating on Dynatronics Corp (DYNT) today and set a price target of $3.75. The company’s shares closed yesterday at $1.94, close to its 52-week low of $1.88.
Vendetti commented:
“We recommend buying DYNT, a leading manufacturer and distributor of orthopedic soft goods, medical supplies, and physical therapy (PT) and rehabilitation (rehab) products, due to the opportunity to grow market share via acquisitions in the highly fragmented PT and rehab market. In support of this strategy, the company acquired Hausmann, a leading manufacturer of PT and athletic training equipment, in Bird & Cronin, a leading designer and manufacturer of orthopedic soft goods and specialty patient care products, in October 2017. We estimate that combined, Hausmann and Bird & Cronin account for roughly 60% of total revenue, and we expect them to benefit from key demographic trends, such as an aging US population.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.7% and a 50.9% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Currently, the analyst consensus on Dynatronics Corp is a Strong Buy with an average price target of $4.58.
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Based on Dynatronics Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $440.8K. In comparison, last year the company had a GAAP net loss of $1.28 million.
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Dynatronics Corp. engages in the design, manufacture, and market of orthopedic soft goods, medical supplies, and physical therapy and rehabilitation equipment. It also produces and distributes a line of aesthetic equipment including aesthetic massage and microdermabrasion devices, as well as skin care products.
