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 research note issued to investors on Saturday.

FONAR Stock Down 3.0 %

FONR opened at $15.03 on Friday. FONAR has a twelve month low of $14.05 and a twelve month high of $24.05. The stock has a market capitalization of $95.14 million, a price-to-earnings ratio of 10.74 and a beta of 1.19. The company has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $16.30.

FONAR (NASDAQ:FONR) last posted 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 9.41% and a return on equity of 6.10%. The business had revenue of $25.94 million for the quarter.

Institutional Trading of FONAR

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its stake in FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after acquiring an additional 938 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of 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 valued at $346,000 after purchasing an additional 1,900 shares in the last quarter. Corsair Capital Management L.P. grew its holdings in shares of FONAR by 8.8% during the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after purchasing an additional 2,266 shares during the last quarter. Hillsdale Investment Management Inc. increased its position 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 boosted its position in FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after buying an additional 5,998 shares in the last quarter. 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.