FONAR (NASDAQ:FONR) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of FONAR (NASDAQ:FONRGet Rating) in a research report issued to clients and investors on Thursday. The firm set a “strong-buy” rating on the medical equipment provider’s stock.

Separately, TheStreet lowered FONAR from a “b-” rating to a “c+” rating in a research note on Tuesday, May 17th.

FONAR Stock Up 0.6 %

NASDAQ FONR opened at $14.92 on Thursday. The company has a current ratio of 8.07, a quick ratio of 7.90 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $15.22 and its 200 day moving average price is $16.54. FONAR has a twelve month low of $14.24 and a twelve month high of $19.32.

FONAR (NASDAQ:FONRGet Rating) last announced its quarterly earnings results on Monday, May 16th. The medical equipment provider reported $0.32 EPS for the quarter. The company had revenue of $24.57 million during the quarter. FONAR had a return on equity of 8.66% and a net margin of 10.96%.

Institutional Investors Weigh In On FONAR

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of FONAR during the 1st quarter valued at about $398,000. Dimensional Fund Advisors LP raised its holdings in shares of FONAR by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 376,486 shares of the medical equipment provider’s stock valued at $6,984,000 after buying an additional 11,745 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of FONAR by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 41,609 shares of the medical equipment provider’s stock valued at $771,000 after buying an additional 1,353 shares during the period. American Century Companies Inc. raised its holdings in shares of FONAR by 27.9% during the 1st quarter. American Century Companies Inc. now owns 23,960 shares of the medical equipment provider’s stock valued at $444,000 after buying an additional 5,232 shares during the period. Finally, State Street Corp raised its holdings in shares of FONAR by 9.6% during the 1st quarter. State Street Corp now owns 19,354 shares of the medical equipment provider’s stock valued at $359,000 after buying an additional 1,696 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

About FONAR

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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 through two segments, Medical Equipment segment, and Physician Management and Diagnostic services segment.

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