Fonar (NASDAQ:FONR) Stock Rating Upgraded by Wall Street Zen

Fonar (NASDAQ:FONR) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report released on Friday.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Fonar in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fonar presently has a consensus rating of “Hold”.

Fonar Stock Down 0.2%

Fonar stock opened at $14.04 on Friday. The firm has a fifty day simple moving average of $15.12 and a two-hundred day simple moving average of $15.09. Fonar has a twelve month low of $12.00 and a twelve month high of $17.62. The company has a market capitalization of $87.07 million, a PE ratio of 11.41 and a beta of 0.90.

Fonar (NASDAQ:FONR) last released its quarterly earnings data on Monday, November 10th. The medical equipment provider reported $0.34 EPS for the quarter. The firm had revenue of $26.04 million for the quarter. Fonar had a return on equity of 5.22% and a net margin of 7.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Money Concepts Capital Corp boosted its position in shares of Fonar by 4.5% during the third quarter. Money Concepts Capital Corp now owns 483,522 shares of the medical equipment provider’s stock valued at $7,282,000 after purchasing an additional 20,762 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Fonar during the third quarter valued at approximately $216,000. Ritholtz Wealth Management bought a new position in shares of Fonar during the second quarter valued at approximately $157,000. CIBC Private Wealth Group LLC bought a new position in Fonar during the 3rd quarter valued at approximately $90,000. Finally, Lakewood Asset Management LLC increased its position in Fonar by 51.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 16,564 shares of the medical equipment provider’s stock valued at $249,000 after buying an additional 5,607 shares in the last quarter. Hedge funds and other institutional investors 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.