FONAR (NASDAQ:FONR) Cut to Buy at StockNews.com

StockNews.com cut shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

FONAR Stock Performance

FONR stock opened at $15.26 on Thursday. The firm has a fifty day moving average price of $16.33 and a 200 day moving average price of $16.38. FONAR has a fifty-two week low of $13.32 and a fifty-two week high of $24.05. The firm has a market cap of $96.60 million, a PE ratio of 9.97 and a beta of 1.19.

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

Institutional Investors Weigh In On FONAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FONR. Lakewood Asset Management LLC purchased a new position in shares of FONAR in the 3rd quarter worth approximately $173,000. Inspire Advisors LLC bought a new stake in FONAR in the first quarter worth $218,000. Linden Thomas Advisory Services LLC lifted its position in FONAR by 9.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after buying an additional 1,900 shares during the last quarter. Empowered Funds LLC boosted its stake in FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after buying an additional 4,507 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position 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 valued at $704,000 after acquiring an additional 9,237 shares during the last quarter. 50.64% of the stock is currently 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.