FONAR (NASDAQ:FONR) Lifted 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 issued to investors on Wednesday morning.

FONAR Trading Down 2.3 %

Shares of FONR opened at $18.00 on Wednesday. The firm has a market capitalization of $113.94 million, a P/E ratio of 11.54 and a beta of 1.19. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05. The firm has a fifty day moving average price of $16.38 and a 200-day moving average price of $18.40.

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

Institutional Trading of FONAR

A number of hedge funds have recently added to or reduced their stakes in FONR. Acuitas Investments LLC purchased a new stake in FONAR in the fourth quarter worth about $4,277,000. Hillsdale Investment Management Inc. bought a new position in FONAR in the fourth quarter worth about $1,201,000. Carmel Capital Partners LLC increased its holdings in shares of FONAR by 725.1% during the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after acquiring an additional 10,623 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of FONAR during the first quarter valued at about $218,000. Finally, Lakewood Asset Management LLC acquired a new position in shares of FONAR during the first quarter valued at about $205,000. 50.64% of the stock is owned by hedge funds and other 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.