FONAR (NASDAQ:FONR - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.
FONAR Trading Down 3.0 %
FONR stock traded down $0.46 during midday trading on Friday, reaching $15.03. The company had a trading volume of 42,239 shares, compared to its average volume of 18,257. The company has a 50 day moving average of $15.98 and a two-hundred day moving average of $16.30. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05. The company has a market capitalization of $95.11 million, a P/E ratio of 10.74 and a beta of 1.19.
FONAR (NASDAQ:FONR - Get Free Report) last announced its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The business had revenue of $25.94 million during the quarter.
Institutional Trading of FONAR
A number of institutional investors have recently added to or reduced their stakes in FONR. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in FONAR by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider's stock worth $9,757,000 after purchasing an additional 7,645 shares during the last quarter. Renaissance Technologies LLC grew its stake in FONAR by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider's stock valued at $5,507,000 after buying an additional 35,375 shares during the last quarter. Acuitas Investments LLC raised its holdings in FONAR by 142.1% in the 2nd quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider's stock worth $1,814,000 after acquiring an additional 66,563 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in FONAR by 7.8% during 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 acquiring an additional 4,800 shares during the period. Finally, Inspire Advisors LLC increased its stake 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 worth $556,000 after purchasing an additional 5,998 shares during the period. 50.64% of the stock is currently owned by institutional investors and hedge funds.
About FONAR
(
Get Free Report)
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.
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