FONAR (NASDAQ:FONR) Downgraded by StockNews.com to Buy

StockNews.com cut shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

FONAR Trading Down 0.7 %

Shares of FONAR stock opened at $14.76 on Friday. The firm’s 50 day moving average is $15.95 and its 200 day moving average is $16.29. The firm has a market capitalization of $93.43 million, a PE ratio of 10.54 and a beta of 1.19. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05.

FONAR (NASDAQ:FONR) last announced its quarterly earnings results on Friday, September 27th. The medical equipment provider reported $0.13 EPS for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The firm had revenue of $25.94 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC bought a new position in FONAR during the 3rd quarter valued at $173,000. Empowered Funds LLC raised its holdings in shares of FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 938 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of FONAR by 9.6% during the second 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. boosted its holdings in FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock worth $453,000 after purchasing an additional 2,266 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in FONAR by 177.3% in the 2nd quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock worth $454,000 after purchasing an additional 18,124 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

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.