FONAR (NASDAQ:FONR) Rating Lowered to Buy at StockNews.com

FONAR (NASDAQ:FONR) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued 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 firm has a 50 day moving average price of $15.98 and a 200-day moving average price of $16.30.

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. FONAR had a net margin of 9.41% and a return on equity of 6.10%. The firm had revenue of $25.94 million during the quarter.

Institutional Investors Weigh In On FONAR

A number of institutional investors have recently added to or reduced their stakes in the stock. Acuitas Investments LLC increased its stake in FONAR by 142.1% during the second 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 during the period. Renaissance Technologies LLC boosted its holdings in shares of FONAR by 11.5% in the second quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock valued at $5,507,000 after acquiring an additional 35,375 shares during the period. Inspire Advisors LLC boosted its holdings in shares of FONAR by 177.3% in the second quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock valued at $454,000 after acquiring an additional 18,124 shares in the last quarter. Lakewood Asset Management LLC acquired a new stake in shares of FONAR in the 3rd quarter valued at approximately $173,000. Finally, O Shaughnessy Asset Management LLC raised its position in 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 worth $704,000 after acquiring an additional 9,237 shares in the last quarter. Institutional investors and hedge funds 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.