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

StockNews.com downgraded shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a research report report published on Thursday.

FONAR Price Performance

Shares of FONAR stock opened at $15.26 on Thursday. FONAR has a 1-year low of $13.32 and a 1-year high of $24.05. The company’s fifty day simple moving average is $16.33 and its 200-day simple moving average is $16.38. The stock has a market capitalization of $96.60 million, a PE ratio of 9.97 and a beta of 1.19.

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 return on equity of 6.77% and a net margin of 10.27%. The company had revenue of $25.94 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FONR. Lakewood Asset Management LLC purchased a new position in FONAR during the third quarter valued at approximately $173,000. Inspire Advisors LLC bought a new position in FONAR in the 1st quarter worth $218,000. Linden Thomas Advisory Services LLC increased its stake in FONAR by 9.6% in 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 in the last quarter. Empowered Funds LLC increased its stake in FONAR by 37.6% in the 1st quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after buying an additional 4,507 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in FONAR by 38.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 9,237 shares during the period. 50.64% of the stock is currently owned by institutional investors.

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.