Shares of Fonar Corporation (NASDAQ:FONR - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.33 and traded as high as $15.61. Fonar shares last traded at $15.36, with a volume of 47,815 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised Fonar from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th.
Get Our Latest Research Report on Fonar
Fonar Trading Down 0.9%
The firm has a market cap of $97.90 million, a P/E ratio of 12.63 and a beta of 0.96. The firm's 50 day moving average is $15.20 and its two-hundred day moving average is $14.35.
Fonar (NASDAQ:FONR - Get Free Report) last announced its quarterly earnings results 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
Several large investors have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new position in shares of Fonar in the second quarter valued at approximately $157,000. Linden Thomas Advisory Services LLC raised its stake in shares of Fonar by 16.5% in the 1st 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 grew its stake in shares of Fonar by 1.2% during the 1st quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock worth $5,692,000 after acquiring an additional 4,719 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fonar by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock worth $5,703,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in 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 purchasing an additional 1,504 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.
Fonar Company Profile
(
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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.
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