FONAR (NASDAQ:FONR) Lifted 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 note released on Wednesday.

FONAR Stock Down 2.3 %

Shares of FONR opened at $18.00 on Wednesday. The stock has a 50 day moving average price of $16.38 and a 200 day moving average price of $18.40. The company has a market capitalization of $113.94 million, a price-to-earnings ratio of 11.54 and a beta of 1.19. FONAR has a 52-week low of $12.13 and a 52-week high of $24.05.

FONAR (NASDAQ:FONR) last issued its quarterly earnings data on Wednesday, May 15th. The medical equipment provider reported $0.27 earnings per share for the quarter. FONAR had a return on equity of 7.50% and a net margin of 10.66%. The company had revenue of $25.72 million during the quarter.

Institutional Investors Weigh In On FONAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marquette Asset Management LLC purchased a new stake in FONAR in the fourth quarter valued at approximately $168,000. Lakewood Asset Management LLC purchased a new stake in FONAR in the first quarter valued at approximately $205,000. Inspire Advisors LLC purchased a new stake in FONAR in the first quarter valued at approximately $218,000. Carmel Capital Partners LLC lifted its stake in FONAR by 725.1% in the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 10,623 shares during the last quarter. Finally, Denali Advisors LLC lifted its stake in FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

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.