FONAR (NASDAQ:FONR) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of FONAR (NASDAQ:FONR) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

FONAR Stock Down 0.7 %

Shares of FONAR stock traded down $0.10 on Friday, reaching $15.03. The company’s stock had a trading volume of 14,136 shares, compared to its average volume of 15,559. FONAR has a 52-week low of $13.47 and a 52-week high of $24.05. The company has a market capitalization of $95.14 million, a P/E ratio of 9.82 and a beta of 1.19. The stock has a 50-day moving average price of $16.11 and a 200-day moving average price of $16.33.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. FONAR had a return on equity of 6.77% and a net margin of 10.27%. The company had revenue of $25.94 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FONR. Lakewood Asset Management LLC purchased a new stake in shares of FONAR in the third quarter valued at approximately $173,000. Inspire Advisors LLC acquired a new position in shares of FONAR during the 1st quarter valued at about $218,000. Empowered Funds LLC grew its holdings in shares of FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 938 shares during the period. Linden Thomas Advisory Services LLC increased its position in FONAR by 9.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after purchasing an additional 1,900 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in FONAR by 38.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 9,237 shares during the period. 50.64% of the stock is owned by hedge funds and other institutional investors.

FONAR Company Profile

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.