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 research report sent to investors on Saturday.

FONAR Stock Down 1.1 %

FONAR stock opened at $14.87 on Friday. FONAR has a 12-month low of $14.05 and a 12-month high of $24.05. The firm’s fifty day moving average is $15.98 and its 200 day moving average is $16.30. The company has a market capitalization of $94.13 million, a PE ratio of 10.84 and a beta of 1.19.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings 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 valued at $303,000 after purchasing an additional 938 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings 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 valued at $346,000 after purchasing an additional 1,900 shares during the last quarter. Corsair Capital Management L.P. raised its holdings in shares of FONAR by 8.8% in the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after purchasing an additional 2,266 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of FONAR by 7.8% in 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 last quarter. Finally, Inspire Advisors LLC raised its holdings in shares of FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 5,998 shares during the last quarter. Institutional investors and hedge funds 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.