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

FONAR (NASDAQ:FONR) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

FONAR Price Performance

FONAR stock traded up $0.15 during midday trading on Wednesday, hitting $16.15. 4,520 shares of the stock were exchanged, compared to its average volume of 20,247. The company has a 50 day moving average price of $15.77 and a two-hundred day moving average price of $18.58. The firm has a market cap of $102.23 million, a P/E ratio of 10.35 and a beta of 1.19. FONAR has a 1 year low of $12.13 and a 1 year high of $24.05.

FONAR (NASDAQ:FONR) last released its quarterly earnings results on Wednesday, May 15th. The medical equipment provider reported $0.27 EPS for the quarter. The business had revenue of $25.72 million for the quarter. FONAR had a return on equity of 7.50% and a net margin of 10.66%.

Institutional Trading of FONAR

Several institutional investors have recently added to or reduced their stakes in FONR. Linden Thomas Advisory Services LLC grew its stake in 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 purchasing an additional 1,900 shares in the last quarter. O Shaughnessy Asset Management LLC raised 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 valued at $704,000 after acquiring an additional 9,237 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in FONAR by 7.8% during the first 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 during the last quarter. Inspire Advisors LLC acquired a new position in FONAR in the first quarter worth $218,000. Finally, Empowered Funds LLC increased its stake in 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 purchasing an additional 4,507 shares during 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.