FONAR (NASDAQ:FONR) Upgraded at StockNews.com

StockNews.com upgraded shares of FONAR (NASDAQ:FONR) from a buy rating to a strong-buy rating in a report published on Wednesday.

FONAR Stock Performance

NASDAQ:FONR opened at $16.64 on Wednesday. FONAR has a 52 week low of $12.13 and a 52 week high of $24.05. The firm has a 50-day moving average price of $15.78 and a two-hundred day moving average price of $18.54. The firm has a market cap of $105.30 million, a price-to-earnings ratio of 10.67 and a beta of 1.19.

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

Hedge Funds Weigh In On FONAR

Institutional investors have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC purchased a new position in FONAR in the fourth quarter valued at about $168,000. Lakewood Asset Management LLC purchased a new position in FONAR in the first quarter valued at approximately $205,000. Inspire Advisors LLC bought a new position in FONAR during the first quarter valued at $218,000. Carmel Capital Partners LLC increased its position in FONAR by 725.1% in the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock worth $236,000 after buying an additional 10,623 shares during the last quarter. Finally, Denali Advisors LLC raised its stake in shares of FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 2,700 shares during the period. Institutional investors 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.