Wall Street Zen Upgrades Fonar (NASDAQ:FONR) to Strong-Buy

Key Points

• Fonar, a medical equipment provider, has been upgraded by Wall Street Zen from a "buy" to a "strong-buy" rating.
• The stock opened at $16.07 and has a market cap of $99.63 million, reflecting a stable P/E ratio of 12.86.
• Recent institutional activity shows a combined ownership of 50.64% of Fonar's stock by institutional investors and hedge funds.

Fonar (NASDAQ:FONR - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Fonar Stock Performance

FONR stock opened at $16.07 on Friday. Fonar has a 1 year low of $12.00 and a 1 year high of $18.64. The stock's 50 day moving average price is $14.90 and its 200 day moving average price is $14.32. The firm has a market cap of $99.63 million, a P/E ratio of 12.86 and a beta of 1.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FONR. Linden Thomas Advisory Services LLC raised its holdings in 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 acquiring an additional 4,818 shares during the last quarter. Money Concepts Capital Corp raised its holdings in Fonar by 1.2% in the 1st quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock valued at $5,692,000 after acquiring an additional 4,719 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Fonar by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock valued at $5,703,000 after acquiring an additional 2,149 shares during the last quarter. Empowered Funds LLC raised its holdings in Fonar by 7.7% in the 1st quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock valued at $296,000 after acquiring an additional 1,504 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Fonar by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock worth $1,212,000 after buying an additional 945 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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