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

StockNews.com upgraded shares of FONAR (NASDAQ:FONR - Free Report) from a buy rating to a strong-buy rating in a research note released on Friday morning.

FONAR Trading Down 0.7 %

FONAR stock traded down $0.10 during mid-day trading on Friday, reaching $15.03. The company's stock had a trading volume of 14,136 shares, compared to its average volume of 17,820. The firm has a market cap of $95.11 million, a price-to-earnings ratio of 9.82 and a beta of 1.19. FONAR has a twelve month low of $13.47 and a twelve month high of $24.05. The business has a 50 day moving average price of $16.11 and a 200-day moving average price of $16.33.

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 for the quarter. The business 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 Investors Weigh In On FONAR

Large investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC bought a new position in shares of FONAR during the first quarter worth about $218,000. Lakewood Asset Management LLC acquired a new stake in shares of FONAR in the third quarter valued at approximately $173,000. Empowered Funds LLC raised its holdings in shares of FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider's stock valued at $352,000 after buying an additional 4,507 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of FONAR by 9.6% during 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 buying an additional 1,900 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in FONAR by 38.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider's stock worth $704,000 after buying an additional 9,237 shares in the last quarter. 50.64% of the stock is owned by institutional investors and hedge funds.

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.