The shares of Dynatronics Corporation (DYNT), a leading manufacturer of medical devices, are up about 85% in the current trading after the announcement made by the company that its wholly subsidiary, Bird & Cronin, LLC has renewed its purchasing agreement with Intalere, a leading purchasing organization in the healthcare industry, for Orthopedic Soft Goods and bracing.
What’s Happening?
The Extension of the key Distribution agreement is the main reason behind the rise of per-share price in pre-market trading. The per-share price was recorded to $2.36 with an 84.33% rise on the last check. According to the agreement
- The partnership between Brid & Cronin and Intalere is extended to January 2024.
- Intalere members will enjoy negotiated prices over a wide variety of bracing solutions for various upper and lower extremities.
The 20-year long relationship between Bird & Cronin and Intalere has now been stronger as the former will help the latter through its bracing and support products to focus on the patients that would ultimately strengthen the internal and external infrastructure of Intalere.
In the second week of February, the company shared the second-quarter results in which the earnings per share decreased 20%, and a 21.25% decline in the revenue was observed.
Conclusion:
Currently, the DYNT stock is enjoying the bullish sentiment and captivating the attention of investors. With the expansion of its relationship with Intalere, there are chances that the stock will continue the uptrend in the future. In short, investors need to keep an eye on it.
