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

FONAR (NASDAQ:FONR) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

FONAR Stock Up 0.4 %

FONAR stock opened at $15.26 on Thursday. The company has a 50 day moving average of $16.37 and a 200-day moving average of $16.40. FONAR has a twelve month low of $13.32 and a twelve month high of $24.05. The stock has a market capitalization of $96.60 million, a PE ratio of 9.93 and a beta of 1.19.

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

Hedge Funds Weigh In On FONAR

Several institutional investors and hedge funds have recently modified their holdings of the business. Acuitas Investments LLC increased its stake in FONAR by 142.1% in the second quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock valued at $1,814,000 after acquiring an additional 66,563 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 35,375 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of 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 purchasing an additional 18,124 shares during the last quarter. Lakewood Asset Management LLC acquired a new position in shares of FONAR during the 3rd quarter worth $173,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of FONAR by 38.9% during 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 during the last quarter. 50.64% of the stock is currently 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.