FONAR (NASDAQ:FONR) Lowered to C+ at TheStreet

FONAR (NASDAQ:FONRGet Rating) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Tuesday, TheStreetRatingsTable reports.

Separately, StockNews.com initiated coverage on FONAR in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock.

Shares of FONAR stock opened at $15.85 on Tuesday. The firm has a market capitalization of $103.82 million, a P/E ratio of 11.64 and a beta of 0.83. The company has a quick ratio of 7.98, a current ratio of 8.13 and a debt-to-equity ratio of 0.01. FONAR has a 52 week low of $14.24 and a 52 week high of $19.32. The firm’s 50 day moving average is $18.00 and its two-hundred day moving average is $16.85.

FONAR (NASDAQ:FONRGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The medical equipment provider reported $0.57 earnings per share (EPS) for the quarter. FONAR had a net margin of 12.77% and a return on equity of 9.95%. The company had revenue of $24.48 million during the quarter.

A number of large investors have recently modified their holdings of FONR. Citadel Advisors LLC purchased a new stake in FONAR during the 2nd quarter valued at approximately $257,000. O Shaughnessy Asset Management LLC grew its position in FONAR by 77.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,017 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 882 shares during the last quarter. American Century Companies Inc. increased its stake in FONAR by 14.5% in the 3rd quarter. American Century Companies Inc. now owns 13,772 shares of the medical equipment provider’s stock valued at $213,000 after buying an additional 1,744 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of FONAR by 13.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 890,831 shares of the medical equipment provider’s stock worth $13,772,000 after acquiring an additional 102,318 shares during the period. Finally, Denali Advisors LLC acquired a new position in shares of FONAR during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

About FONAR (Get Rating)

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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