The shares of Dynatronics Corporation (DYNT) were up 34.62% to trade at $1.75 after hours at the last check. The Dynatronics stock closed Monday’s session at $1.30, up 4.84%. DYNT stock volume remained at 4.02 million shares, which is higher than the 1.11 million shares average daily volume for the past 50 days. Over the last 12 months, DYNT stock has gained 42.89 %, and the stock has dropped by -3.70% over the past week.
DYNT stock has gained 13.04% over the past three months, while it has shed -5.80% over the past six months. In addition, DYNT has a current market capitalization of $23.48 million and 15.83 million outstanding shares. The stock of Dynatronics rose after the company announced preliminary net third-quarter sales.
What has DYNT shared?
In its quest to provide high-quality products that promote optimal health, Dynatronics has earned a reputation as one of the leading medical device companies. DYNT is a manufacturer, distributor, and marketer of a broad range of products for use in physical therapy, rehabilitation, pain management, and athletic training.
Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, hospitals, and consumers through its distribution channels. As part of DYNT’s portfolio of brands, including Bird & Cronin, Solaris, Hausmann, Physician’s Choice, and PROTEAM, among others, the company sells a range of high-quality, well-known medical devices.
In a press release published yesterday, Dynatronics reported preliminary unaudited fourth quarter net sales. Additionally, DYNT provided an update on its financial performance improvement efforts. As a part of its previously announced initiatives, the company has taken a series of strategically-oriented actions.
Unaudited preliminary results for Q4 FY ’21:
- Approximately $12.1 million in net sales were reported in the initial unaudited fourth quarter of FY ’21.
- As of the end of the fourth quarter of FY ’21, DYNT reported net sales of $9.7 million from product offerings it will continue to offer.
- In FY’22, DYNT will continue to offer products to its dealer customers as exhibited in the period.
- The COVID-19 standard is expected to pose a number of challenges for Dynatronics and its customers, such as higher delivery and shipping costs, disruptions to the supply chain, and longer handling times. Business optimization will also continue to cause volatility for Dynatronics.
- Early results of DYNT’s optimization have exceeded our base case expectations. The response from customers and dealers has been positive so far.
- In order to maximize shareholder value, DYNT is validating its value proposition to its customers by setting itself up for sustainable long-term growth.
Did anything support DYNT Stock?
On April 22, 2021, Dynatronics (DYNT) announced that it was effectively completing its optimization initiatives. In the fourth quarter, DYNT exceeded their expectations for net sales of continuous products, and their bank line was undrawn with a cash balance of $6.1 million on June 30, 2021, up 176% from June 30, 2020.
