Fonar (NASDAQ:FONR) Announces Earnings Results

Fonar (NASDAQ:FONR) posted its quarterly earnings results on Friday. The medical equipment provider reported $0.31 EPS for the quarter, Zacks reports. Fonar had a return on equity of 4.66% and a net margin of 7.08%.

Fonar Stock Up 0.1%

Shares of NASDAQ FONR traded up $0.01 during trading on Friday, reaching $18.55. The company had a trading volume of 79,644 shares, compared to its average volume of 94,031. The stock has a market cap of $115.01 million, a PE ratio of 16.71 and a beta of 1.00. Fonar has a 12-month low of $12.00 and a 12-month high of $18.86. The business’s 50-day moving average is $17.26 and its 200 day moving average is $15.95.

Institutional Trading of Fonar

Several hedge funds have recently bought and sold shares of FONR. CIBC Private Wealth Group LLC bought a new stake in shares of Fonar during the 3rd quarter valued at $90,000. Empowered Funds LLC boosted its position in shares of Fonar by 7.7% during the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 1,504 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Fonar by 2.3% during the second quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 1,843 shares during the last quarter. Geode Capital Management LLC increased its holdings in Fonar by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider’s stock worth $1,292,000 after purchasing an additional 1,336 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fonar by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock worth $5,677,000 after purchasing an additional 4,413 shares during the period. Institutional investors own 50.64% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Fonar to a “hold” rating in a report on Friday, November 28th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fonar presently has a consensus rating of “Hold”.

Fonar Company Profile

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.