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

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

FONAR Stock Down 3.0 %

FONR stock opened at $15.03 on Friday. The company has a market cap of $95.14 million, a price-to-earnings ratio of 10.74 and a beta of 1.19. FONAR has a twelve month low of $14.05 and a twelve month high of $24.05. The business has a 50 day moving average price of $15.98 and a two-hundred day moving average price of $16.30.

FONAR (NASDAQ:FONR) last released its earnings results 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 business had revenue of $25.94 million during the quarter.

Institutional Trading of FONAR

Institutional investors and hedge funds have recently bought and sold shares of the business. Lakewood Asset Management LLC acquired a new position in shares of FONAR during the 3rd quarter worth approximately $173,000. Empowered Funds LLC increased its holdings 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 valued at $352,000 after purchasing an additional 4,507 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of FONAR by 9.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after buying an additional 1,900 shares during the last quarter. Corsair Capital Management L.P. boosted its holdings in shares of FONAR by 8.8% during the 3rd 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 during the period. Finally, Inspire Advisors LLC grew 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 valued at $454,000 after buying an additional 18,124 shares during the last quarter. Institutional investors 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.