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

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

FONAR Stock Down 3.0 %

Shares of NASDAQ FONR opened at $15.03 on Friday. FONAR has a fifty-two week low of $14.05 and a fifty-two week high of $24.05. The business has a 50 day moving average price of $15.98 and a two-hundred day moving average price of $16.30. The firm has a market cap of $95.14 million, a PE ratio of 10.74 and a beta of 1.19.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 EPS for the quarter. The company had revenue of $25.94 million for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%.

Institutional Investors Weigh In On FONAR

A number of large investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position 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 valued at $9,757,000 after buying an additional 7,645 shares during the last quarter. Renaissance Technologies LLC increased its holdings in FONAR by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock worth $5,507,000 after purchasing an additional 35,375 shares in the last quarter. Acuitas Investments LLC increased its holdings in FONAR by 142.1% during the 2nd quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock worth $1,814,000 after purchasing an additional 66,563 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in FONAR by 7.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock worth $1,414,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after acquiring an additional 5,998 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors.

FONAR Company Profile

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.