FONAR (NASDAQ:FONR) Stock Rating Upgraded by StockNews.com

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

FONAR Price Performance

Shares of NASDAQ:FONR opened at $15.13 on Friday. The stock has a market cap of $95.77 million, a P/E ratio of 9.89 and a beta of 1.19. The firm has a fifty day moving average price of $16.16 and a 200 day moving average price of $16.34. FONAR has a 1-year low of $13.47 and a 1-year high of $24.05.

FONAR (NASDAQ:FONR) last issued its quarterly earnings results 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 net margin of 10.27% and a return on equity of 6.77%.

Institutional Trading of FONAR

Several hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of FONAR by 5.3% in the 3rd 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 period. Linden Thomas Advisory Services LLC lifted its stake 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 period. Hillsdale Investment Management Inc. lifted its stake 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 period. Inspire Advisors LLC increased its holdings in FONAR by 21.2% during the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after acquiring an additional 5,998 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in FONAR by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock valued at $9,757,000 after acquiring an additional 7,645 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

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.