FONAR (NASDAQ:FONR) Upgraded by StockNews.com to Strong-Buy Rating

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

FONAR Price Performance

Shares of NASDAQ FONR opened at $15.13 on Friday. The company has a market cap of $95.77 million, a PE ratio of 9.89 and a beta of 1.19. FONAR has a 12 month low of $13.47 and a 12 month high of $24.05. The company has a 50-day simple moving average of $16.16 and a 200-day simple moving average of $16.34.

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

Institutional Investors Weigh In On FONAR

Several hedge funds have recently modified their holdings of FONR. Lakewood Asset Management LLC acquired a new stake in shares of FONAR in the third quarter worth approximately $173,000. Inspire Advisors LLC acquired a new stake in shares of FONAR in the first quarter worth approximately $218,000. Empowered Funds LLC boosted its position in shares of FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after acquiring an additional 938 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of 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 acquiring an additional 1,900 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of FONAR by 38.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after acquiring an additional 9,237 shares during the last quarter. 50.64% of the stock is owned by institutional investors and hedge funds.

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.