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

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

FONAR Stock Up 1.2 %

FONR stock opened at $16.35 on Wednesday. FONAR has a 52-week low of $12.13 and a 52-week high of $24.05. The stock’s fifty day simple moving average is $15.78 and its 200-day simple moving average is $18.56. The stock has a market capitalization of $103.50 million, a price-to-earnings ratio of 10.48 and a beta of 1.19.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Acuitas Investments LLC purchased a new position in shares of FONAR in the 4th quarter worth $4,277,000. Hillsdale Investment Management Inc. purchased a new position in shares of FONAR in the 4th quarter worth $1,201,000. Carmel Capital Partners LLC raised its position in shares of FONAR by 725.1% in the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock worth $236,000 after buying an additional 10,623 shares during the period. Denali Advisors LLC raised its position in FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 2,700 shares during the period. Finally, Marquette Asset Management LLC purchased a new position in FONAR in the fourth quarter valued at about $168,000. 50.64% of the stock is 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.