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 note published on Friday morning.

FONAR Trading Down 0.7 %

FONR traded down $0.10 during trading hours on Friday, hitting $15.03. 14,136 shares of the company’s stock were exchanged, compared to its average volume of 15,559. The firm has a market cap of $95.14 million, a P/E ratio of 9.82 and a beta of 1.19. FONAR has a 12-month low of $13.47 and a 12-month high of $24.05. The firm has a 50 day moving average of $16.11 and a 200 day moving average of $16.33.

FONAR (NASDAQ:FONR) last issued its earnings results on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share for the quarter. The firm 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%.

Institutional Investors Weigh In On FONAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FONR. Renaissance Technologies LLC raised its position in 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. 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 purchasing an additional 66,563 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of FONAR by 38.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 9,237 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of FONAR by 21.2% during the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after buying an additional 5,998 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after buying an additional 4,507 shares during the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

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.