Fonar (NASDAQ:FONR) Rating Lowered to "Buy" at Wall Street Zen

Wall Street Zen lowered shares of Fonar (NASDAQ:FONR - Free Report) from a strong-buy rating to a buy rating in a report released on Friday.

Fonar Trading Up 0.1%

NASDAQ:FONR traded up $0.01 on Friday, reaching $16.03. The stock had a trading volume of 9,233 shares, compared to its average volume of 18,400. The company has a 50-day moving average of $14.64 and a 200 day moving average of $14.29. The stock has a market cap of $99.39 million, a P/E ratio of 12.79 and a beta of 1.00. Fonar has a 12-month low of $12.00 and a 12-month high of $18.68.

Fonar (NASDAQ:FONR - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The medical equipment provider reported $0.37 earnings per share for the quarter. Fonar had a net margin of 8.19% and a return on equity of 5.31%.

Institutional Investors Weigh In On Fonar

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Fonar by 7.7% in the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock valued at $296,000 after purchasing an additional 1,504 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of Fonar by 16.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 34,054 shares of the medical equipment provider's stock valued at $477,000 after purchasing an additional 4,818 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Fonar by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock valued at $1,212,000 after purchasing an additional 945 shares during the period. Truffle Hound Capital LLC acquired a new stake in shares of Fonar in the fourth quarter valued at approximately $1,363,000. Finally, Money Concepts Capital Corp increased its stake in shares of Fonar by 1.2% in the first quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock valued at $5,692,000 after purchasing an additional 4,719 shares during the period. 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.