FONAR (NASDAQ:FONR) Lowered to “Buy” Rating by StockNews.com

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

FONAR Price Performance

Shares of FONR stock opened at $15.03 on Friday. The stock has a market capitalization of $95.14 million, a price-to-earnings ratio of 10.74 and a beta of 1.19. The company’s fifty day simple moving average is $15.98 and its two-hundred day simple moving average is $16.30. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $25.94 million for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%.

Hedge Funds Weigh In On FONAR

Large investors have recently modified their holdings of the company. Lakewood Asset Management LLC bought a new stake in FONAR during the 3rd quarter worth approximately $173,000. Empowered Funds LLC raised its position in shares of FONAR by 37.6% in 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 in the last quarter. Linden Thomas Advisory Services LLC boosted its stake 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 valued at $346,000 after buying an additional 1,900 shares during the period. Corsair Capital Management L.P. grew its position in FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock worth $453,000 after buying an additional 2,266 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in FONAR by 177.3% in the 2nd quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock worth $454,000 after acquiring an additional 18,124 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.

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.