FONAR (NASDAQ:FONR) Raised to “Strong-Buy” at StockNews.com

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

FONAR Stock Performance

Shares of NASDAQ FONR opened at $14.93 on Friday. The business’s 50 day moving average price is $16.11 and its 200-day moving average price is $16.33. FONAR has a fifty-two week low of $13.47 and a fifty-two week high of $24.05. The company has a market cap of $94.51 million, a price-to-earnings ratio of 9.76 and a beta of 1.19.

FONAR (NASDAQ:FONR) last issued its earnings results on Friday, September 27th. The medical equipment provider reported $0.13 EPS for the quarter. The business had revenue of $25.94 million for the quarter. FONAR had a net margin of 10.27% and a return on equity of 6.77%.

Hedge Funds Weigh In On FONAR

Institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC purchased a new stake in shares of FONAR during the first quarter valued at $218,000. Lakewood Asset Management LLC purchased a new position in shares of FONAR in the third quarter valued at approximately $173,000. Empowered Funds LLC lifted its holdings in FONAR by 37.6% in the 1st 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 in the last quarter. 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 worth $346,000 after buying an additional 1,900 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position 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 worth $704,000 after buying an additional 9,237 shares in the last quarter. 50.64% of the stock is owned by hedge funds and other 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.