Fonar (NASDAQ:FONR) Posts Quarterly Earnings Results

Fonar (NASDAQ:FONR) released its quarterly earnings data 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 Trading Up 0.1%

Shares of NASDAQ:FONR traded up $0.01 on Friday, reaching $18.55. 79,644 shares of the company’s stock were exchanged, compared to its average volume of 94,031. Fonar has a twelve month low of $12.00 and a twelve month high of $18.86. The company has a fifty day moving average of $17.26 and a 200-day moving average of $15.95. The company has a market capitalization of $115.01 million, a price-to-earnings ratio of 16.71 and a beta of 1.00.

Institutional Investors Weigh In On Fonar

Several institutional investors and hedge funds have recently bought and sold shares of FONR. Empowered Funds LLC grew its position in shares of Fonar by 7.7% in the 1st 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 last quarter. Bridgeway Capital Management LLC increased 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 buying an additional 1,843 shares during the period. Dimensional Fund Advisors LP raised 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 acquiring an additional 4,413 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in Fonar in the third quarter worth approximately $90,000. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,336 shares in the last quarter. Institutional investors own 50.64% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Fonar to a “hold” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average 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.