FONAR (NASDAQ:FONR) Upgraded 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 morning.

FONAR Stock Down 2.3 %

FONR opened at $18.00 on Wednesday. The company’s 50-day moving average price is $16.38 and its 200 day moving average price is $18.41. FONAR has a fifty-two week low of $12.13 and a fifty-two week high of $24.05. The firm has a market cap of $113.94 million, a price-to-earnings ratio of 11.54 and a beta of 1.19.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FONR. Acuitas Investments LLC bought a new position in FONAR in the 4th quarter worth approximately $4,277,000. Hillsdale Investment Management Inc. increased its holdings in shares of FONAR by 7.8% during the first quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock valued at $1,414,000 after purchasing an additional 4,800 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of 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 purchasing an additional 9,237 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings 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 purchasing an additional 1,900 shares during the period. Finally, Empowered Funds LLC grew its position in FONAR by 37.6% in the 1st quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 4,507 shares in the last quarter. 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.