Fonar (NASDAQ:FONR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.
Fonar Trading Up 0.5%
Shares of NASDAQ:FONR traded up $0.08 on Friday, hitting $16.00. 50,981 shares of the company were exchanged, compared to its average volume of 18,340. Fonar has a 1-year low of $12.00 and a 1-year high of $18.68. The stock's 50 day moving average price is $14.57 and its 200 day moving average price is $14.29. The firm has a market capitalization of $99.20 million, a P/E ratio of 12.80 and a beta of 1.00.
Fonar (NASDAQ:FONR - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The medical equipment provider reported $0.37 EPS 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
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in shares of Fonar by 7.7% during the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock worth $296,000 after buying an additional 1,504 shares during the period. Linden Thomas Advisory Services LLC lifted its position in Fonar by 16.5% during 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. Money Concepts Capital Corp lifted its position in Fonar by 1.2% during 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. Bridgeway Capital Management LLC lifted its position in Fonar by 1.2% during 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. Finally, Dimensional Fund Advisors LP lifted its position in Fonar by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock valued at $5,703,000 after purchasing an additional 2,149 shares during the period. 50.64% of the stock is currently owned by institutional investors and hedge funds.
About Fonar
(
Get Free Report)
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.
Further Reading
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