FONAR (NASDAQ:FONR) Upgraded at StockNews.com

FONAR (NASDAQ:FONR) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

FONAR Trading Down 0.7 %

Shares of FONR opened at $15.03 on Friday. The stock has a market capitalization of $95.14 million, a PE ratio of 9.82 and a beta of 1.19. The firm’s 50 day moving average is $16.11 and its 200-day moving average is $16.33. FONAR has a 12 month low of $13.47 and a 12 month high of $24.05.

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

Institutional Investors Weigh In On FONAR

A number of large investors have recently bought and sold shares of FONR. Renaissance Technologies LLC lifted its holdings in shares of FONAR by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock worth $5,507,000 after acquiring an additional 35,375 shares during the period. Acuitas Investments LLC increased its stake in FONAR by 142.1% in the second quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock valued at $1,814,000 after acquiring an additional 66,563 shares during the last quarter. O Shaughnessy Asset Management LLC raised 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 purchasing an additional 9,237 shares in the last quarter. Inspire Advisors LLC lifted its stake in FONAR by 21.2% during the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after purchasing an additional 5,998 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of 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 purchasing an additional 4,507 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

About FONAR

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.