Fonar (NASDAQ:FONR) Issues Earnings Results

Fonar (NASDAQ:FONR) released its earnings results on Monday. The medical equipment provider reported $0.34 earnings per share for the quarter, Zacks reports. Fonar had a return on equity of 5.22% and a net margin of 7.99%.

Fonar Trading Up 3.0%

Shares of FONR stock traded up $0.44 on Monday, reaching $15.14. The company had a trading volume of 61,283 shares, compared to its average volume of 18,830. The company has a 50-day moving average of $15.47 and a 200-day moving average of $14.90. Fonar has a 12 month low of $12.00 and a 12 month high of $17.62. The stock has a market cap of $93.88 million, a PE ratio of 12.30 and a beta of 0.90.

Analyst Ratings Changes

Several analysts have recently weighed in on FONR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Fonar in a report on Tuesday, October 14th. Wall Street Zen cut shares of Fonar from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fonar has an average rating of “Hold”.

Hedge Funds Weigh In On Fonar

An institutional investor recently raised its position in Fonar stock. Empowered Funds LLC boosted its stake in Fonar Corporation (NASDAQ:FONR) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,139 shares of the medical equipment provider’s stock after purchasing an additional 1,504 shares during the period. Empowered Funds LLC owned about 0.34% of Fonar worth $296,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.